The South Has Already Repaid its External Debt to the North

Nakatani, Paulo; Herrera, Rémy
June 2007
Monthly Review: An Independent Socialist Magazine;Jun2007, Vol. 59 Issue 2, p31
An essay on the debt of developing countries is presented. The debt of Southern economies is contributing to the increasing concentration of wealth in favor of Northern countries at the international level. This explains the dramatic increase in international inequalities and in relative and absolute poverty. Changes in the international monetary and financial system should accompany proposals for debt audits, development of external debt laws and cancellation of debt.


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