Using 50 questions and answers, this book explains the debt impasse for developing countries in a simple but precise manner. It details the roles of the various actors involved, the mesh in which indebted countries are caught, the possible scenarios for getting out of the impasse, and the various alternatives to future indebtedness. It also sets out the various arguments – moral, political, economic, legal and environmental – on which the case for a wholesale cancellation of developing countries‘ external debt rests. It replies to the range of possible objections and proposes new ways of financing development at both local and international level.

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December 24th, 2017

Posted In: Debt Relief

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  • William Podmore says:

    Flawed account of the need to cancel odious debts If you ever heard or held the belief that the “third world” is a burden on the west this book will shatter this misconception.The popular belief is that after Britain and France relinquished their colonies after WWII an era of post colonial development started, where the ex-colonies had free reign to develop on their own. This period however, should be renamed the neocolonial period. When the colonies won independence, the US -headed by the World Bank and IMF proceeded to indebt…

  • Anonymous says:

    Millet is the General Secretary of CADTM France (Comité pour l’Annulation de la Dette du Tiers Monde). Toussaint is the President of CADTM and a member of the International Council of the World Social Forum.Their book examines the origins of the developing countries’ debts, the International Monetary Fund and World Bank’s debt management, the efforts to reduce the debts and most important, the moral, political, economic and legal case for cancelling the debts.As…

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