Imperialism and the Political Economy of Global South’s Debt (Research in Political Economy, 38)

by: Ndongo Samba Sylla (Editor)

Publisher: Emerald Publishing Limited

Publication Date: 2023/3/20

Language: English

Print Length: 264 pages

ISBN-10: 1802624848

ISBN-13: 9781802624847

Book Description

The Covid-19 pandemic has brought the nagging issue of the Global South's debt back into the spotlight. With declining export eaings and tax revenues, many countries in Africa, Latin America and Asia have found themselves objectively unable to service their foreign currency debt. This situation, reminiscent of the inteational debt crisis of the 1980s and 1990s, is the backdrop of the 38th volume of the Research in Political Economy series edited by Ndongo Samba Sylla. In Imperialism and the Political Economy of Global South’s Debt, expert contributions connect the history of this issue with a range of factors including class dynamics, the changing landscape of sovereign debt markets, the global liquidity cycle, the enduring constraints of commodity dependence, ecological sustainability and the limitations of the current ad hoc sovereign debt restructuring procedures. In contrast to orthodox accounts that view debt crises in the Global South as a cyclical problem or as consequences of 'mismanagement' or 'fiscal irresponsibility'. Imperialism and the Political Economy of Global South’s Debt recognises the systemic nature of the Global South’s exteal debt, revealed only further by the economic uncertainty of the Covid-19 pandemic, as well as the need to analyse it in relation to existing imperialist structures.

About the Author

The Covid-19 pandemic has brought the nagging issue of the Global South's debt back into the spotlight. With declining export eaings and tax revenues, many countries in Africa, Latin America and Asia have found themselves objectively unable to service their foreign currency debt. This situation, reminiscent of the inteational debt crisis of the 1980s and 1990s, is the backdrop of the 38th volume of the Research in Political Economy series edited by Ndongo Samba Sylla. In Imperialism and the Political Economy of Global South’s Debt, expert contributions connect the history of this issue with a range of factors including class dynamics, the changing landscape of sovereign debt markets, the global liquidity cycle, the enduring constraints of commodity dependence, ecological sustainability and the limitations of the current ad hoc sovereign debt restructuring procedures. In contrast to orthodox accounts that view debt crises in the Global South as a cyclical problem or as consequences of 'mismanagement' or 'fiscal irresponsibility'. Imperialism and the Political Economy of Global South’s Debt recognises the systemic nature of the Global South’s exteal debt, revealed only further by the economic uncertainty of the Covid-19 pandemic, as well as the need to analyse it in relation to existing imperialist structures.