For as long as there have been rich nations and poor nations, debt has been a powerful force for maintaining the unequal relations between them. Treated as sacrosanct, immutable, and eternally binding, it has become the yoke of choice for imperial powers in the post-colonial world to enforce their subservience over the global south. In this ground-breaking history, renowned economist Éric Toussaint argues for a radical reversal of this balance of accounts through the repudiation of sovereign debt.
About the Author:
Éric Toussaint, Senior Lecturer at the University of Liège, is President of Committee for the Abolition of Illegitimate Debts, Belgium. He is the co-author of Debt, the IMF, and the World Bank, Sixty Questions, Sixty Answers.