Overview

The Covid-19 pandemic has brought the nagging issue of the Global South's debt back into the spotlight. With declining export earnings 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 international 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 external 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.

Full Product Details

Author:   Ndongo Samba Sylla (Rosa Luxemburg Foundation, Senegal)
Publisher:   Emerald Publishing Limited
Imprint:   Emerald Publishing Limited
Dimensions:   Width: 15.20cm , Height: 1.90cm , Length: 22.90cm
Weight:   0.506kg
ISBN:  

9781802624847

ISBN 10:   1802624848
Pages:   264
Publication Date:   20 March 2023
Audience:   Professional and scholarly ,  Professional & Vocational
Format:   Hardback
Publisher's Status:   Active
Availability:   In Print  
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Table of Contents

Part 1: Case Studies Chapter 1. The Political Economy of Debt in the Global South: The Case of Argentina (2001–2022); Juan E. Santarcángelo and Juan Manuel Padín Chapter 2. Can debt be sustainable, if life isn’t? Argentina’s debt crisis and social reproduction; Mariano Féliz Chapter 3. Colonial Hangover in Global Financial Markets: Eurobonds, China, and African Debt; Olufunmilayo Arewa Chapter 4. Tightening the Grip: Foreign Creditors and Sudan’s Political Transition (2019-2022); Harry Cross Part 2: The Elusive Quest for a Sovereign Debt Restructuring Mechanism Chapter 5. Refusing to improve: sovereign debt and the political economy of inertia in UNCTAD 1964 – 1979; Christina Laskaridis Chapter 6. Limits of sovereign debt restructuring mechanisms and possible alternatives; Milan Rivie Part 3: Foreign Debt, Development and Imperialism Chapter 7. Managing the balance-of-payments constraint: dilemmas and perspectives; Basil Oberholzer Chapter 8. Imperialism and Global South’s Debt: Some insights from MMT, Ecological Economics and Dependency Theory; Ndongo Samba Sylla Chapter 9. China and Debt-Trap Diplomacy: A Brief Assessment; Shalendra Sharma

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Author Information

Ndongo Samba Sylla is a Senegalese development economist and a Senior Research and Programme manager at the West Africa office of the Rosa Luxemburg Foundation in Dakar.

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