Will There Be Another Debt Crisis? Current economic challenges facing the Global South
What are the economic challenges facing the Global South post-pandemic? What role have global financial institutions like the World Bank and the IMF played in worsening the economic situation for poorer countries? And what economic alternatives might exist?
In this interview, Jomo Kwame Sundaram shines a light on the effects that decades of liberalisation policy have had on countries in the Global South, including deindustrialisation, food insecurity, and another looming debt crisis. He argues that the recent refusal to waive international property rights related to vaccines as well as sanctions on China have worsened the situation, with the odds increasingly stacked against poorer countries.
Jomo Kwame Sundaram is Visiting Senior Fellow at Khazanah Research Institute, Visiting Fellow at the Initiative for Policy Dialogue, Columbia University, and has previously been the Assistant Director General and Coordinator for Economic and Social Development at the Food and Agriculture Organization of the United Nations. Arun Kundnani is a TNI associate and author of The Muslims are Coming! Islamophobia, extremism, and the domestic War on Terror.