A new debt crisis is affecting a series of countries in the South, whether in South Asia (Sri Lanka, Pakistan, Bangladesh, etc.), sub-Saharan Africa (Ghana, Zambia, etc.), North Africa (Tunisia, Egypt, etc.), the Middle East (Lebanon, etc.), Latin America (Argentina) or the Caribbean (Puerto Rico, Cuba, etc.). Some of these countries have defaulted on their debts.

The crisis is caused by a succession of external shocks that are severely affecting the economies of the South. These external shocks are the result of actions and events originating in the Northern imperialist countries (rise in interest rates decided by the Central banks of North America and Western Europe; increase in the price of food, fuel and fertiliser following the invasion of Ukraine, etc.). The policies of the IMF have not changed, nor have those of the World Bank. And as many countries in the South have just taken up IMF loans, they are having to apply anti-grassroots neoliberal policies to an even greater extent.

Speakers:

Sushovan Dhar, CADTM India, member of the WSF international secretariat and of Asia Pacific Social Forum

Eric Toussaint, CADTM international spokesperson, member of the Scientific Council of ATTAC France, member of the WSF International Council since its foundation in 2001

Balasingham Skanthakumar of the Social Scientists’ Association of Sri Lanka and the CADTM’s South Asia network 

Amali Wedagedara, activist and researcher specializing in agrarian debt and development, Sri Lanka

Abdul Khaliq, Focal Person CADTM-Pakistan and Executive Director, Institute for Social & Economic Justice, Pakistan

David Otieno, Kenyan Peasant League, CADTM Eastern Africa, Kenya

Solange Kone, World March of Women, CADTM Western Africa, Ivory Coast