The book reviews the origins and current structure of third world debt and considers the impact on organised labour in the third world. The first two chapters place third world debt within the framework of the world social economy and examine the political, religious and ideological aspects of sovereign debt. Then follows an account of the politics of international economic relations which produced the rapid rise of indebtedness with the final result of the south countries paying $82 billion in 1990 in interest payments to the lending countries. A chapter specifically analyses the structural adjustment requirements for debt repayment and its impact on organised labour in the Third World. Other chapters present analysis and information on the debt collecting role of the International Monetary Fund and the World Bank, the individuals, banks and governments who gain from the continued debt servicing by Third World countries, the balance sheet of debt cancellation and proposals for an immediate attempt to begin to solve the problem.
|Place of Publication||Brussels|
|Publication status||Published - 1992|