As the Spring Meetings of the International Monetary Fund (IMF) and the World Bank began on April 10, questions emerged as to whether progress would finally be made to address the severe debt crisis that has engulfed large parts of the global south.
Ultimately, and perhaps unsurprisingly, the meetings ended without offering any real solutions to alleviate this distress, despite the IMF and World Bank’s own stark warnings of the fallout.
The scale of the crisis is staggering. Research from Debt Justice shows that external debt payments for lower- income countries are set to reach the highest levels in 25 years in 2023.
A new dossier published by the Tricontinental Institute for Social Research interrogates the historical role of international financial institutions (IFIs), including the IMF, in perpetuating a “permanent debt
