Right now, 54 countries are in debt crisis. This is not an accident. For centuries, powerful governments, institutions and corporations have used debt to control and plunder the resources of countries in the global south for their own gain.
But this is often left out of discussions on global south debt.
From colonial powers forcing countries into debt at the point of independence, to allowing corporations like BlackRock to continue to make huge profits from debt repayments today, we can’t fight today’s debt crisis without understanding its roots.
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