000			02239nam a22002297a 4500
005			20210928100837.0
008			210928b ||||| |||| 00| 0 eng d
020			_a1853831220
040			_cAL
041			_aeng
082			_223 _a336.309 _bADAO
100			_aPatricia Adams _9481
245			_aOdious debts _bLoose lending corruption and the third worlds environmental legacy
300			_a252p. _bPB _c21x14cm.
365			_b8.99 _c£ _d8.99
500			_aEconomics
520			_aThe single most important shackle on the Third World is the debts "owed" to the richer countries - amounting now to over $1.4 trillion. The original loans were mostly put to uses of very dubious benefit to the countries concerned, and the repayments, which despite the hand-wringing and concern the North is insisting on, are stripping those countries of their assets and impoverishing their people and environments. This book gives an exceptionally compelling account of how this catastrophe came about and of its consequences. It analyses the parts played by the different participants - among the lenders, the World Bank, the IMF and other multi-lateral agencies, as well as the export credit agencies and commercial banks; and among the borrowers, not only governments and state enterprises, but also the military and above all greedy and despotic leaders. The story is one of recklessness and corruption. In the face of it, Patricia Adams invokes the doctrine of "odious debts" - those debts contracted by a regime that are not binding for a nation - first used by the US to repudiate Cuba's debts after taking it from Spain, but neglected since. Together with changes in the international financial structure to discourage governments from raising money by borrowing rather than from taxes, this doctrine offers a way of both resolving the crisis justly and furthering democracy and accountability in the Third World. Patricia Adams is also the author of "In the Name of Progress: the Underside of Foreign Aid". _uhttp://probeinternational.org/library/wp-content/uploads/2010/11/Odious-Debts.pdf
650			_aEconomic Development _9482
650			_aInternational Economic Relation _9483
700			_aADAMS (Patricia) _9484
942			_2ddc _cGF
999			_c216416 _d216416