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www.alliance21.org > Proposal Papers > Workgroup on Solidarity Socio-Economy

Debt and Structural Adjustment

Published in May 2001

This Proposal Paper is a summary of the work by the Debt and Structural Adjustment Workshop.


The subject of the debt is one that affects the everyday life of the citizens of the South in that resources are transferred for the development of the South to the North, thus slowing down the accumulation of capital of the countries of the South. The theoretical modes of approximation of the interest rates used by the IMF and international banks suggest that the banks will never lend resources in such a way that the debtors will be able to pay them off.

The evidence shows that the creditors lend to make debtors pay forever, thus generating a pyramid of debts from which the legally contracted country cannot escape. It is legitimate that they be able to escape, or they will remain forever post-modern colonies: at the top of this pyramid, the creditors have built up illegitimate sums, essentially through the mechanism of capitalization of interests. This way, the countries of Africa and Latin America and some in Asia end up transferring resources, which still today impede the development of their nations.

Documents


Coordinated by ...

- Alejandro BendaƱa

Center of International Studies (CEI) - Nicaragua


Site - Centro de Estudios Internacionales

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- Carlos Pacheco

Center of International Studies (CEI) - Nicaragua


Site - Centro de Estudios Internacionales

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- Oscar Ugarteche

Peru


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Topics Included

debt . democracy . development . international regulation . North-South relations . state . world


Workgroup Papers

Go ! Companies Beyond Profit?
Go ! Debt and Structural Adjustment
Go ! Economic Policies
Go ! Ethical Consumption
Go ! Fair Trade
Go ! Finance for the Common Good
Go ! From the WTO’s Setback in Seattle ... to the Conditions for Global Governance
Go ! Growth and Sustainable Development
Go ! Health and its Issues in the Twenty-first Century
Go ! How Can Companies Exercise Their Responsibilities?
Go ! Precarity and Exclusion
Go ! Production, Investment, and Technology
Go ! Red Card for Tourism?
Go ! Social Money: Lever of the Economic Paradigm
Go ! Solidarity Economy
Go ! Solidarity Finance
Go ! Tax Policies, Redistribution, and Social Welfare
Go ! The Trade-union Movement at the Dawn of the Twenty-first Century
Go ! Women and the Economy
Go ! Work, Employment, and Activity
Go ! World Trade Organization



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