3 Review(s)

This volume provides a thorough understanding of the Third World debt crisis. Eric Toussaint traces its development in the 1980s and 1990s, analyzes the role of the World Bank, the IMF and the political restrictions they impose, and assesses the structural adjustment programmes of the 1990s. Toussaint puts into perspective the process of globalization and the neo-liberal offensive, which he argues, is now running out of steam. The book features case studies of differing experiences of debt in Argentina, Mexico, Algeria and Rwanda, and demonstrates the failure of the IMF/World Bank models of development in the light of the Asian crisis. It provides alternative systems to deal with Third World debt which are more humanitarian and egalitarian.