Confronting Debt in the Global South with Dominic Brown
Dominic Brown discusses the strategies being proposed by popular movements in the Global South to confront their debt with Rodrigo and Sara.
Dominic Brown reflects on current movements and their demands from a historical perspective with a focus on South Africa – his home country, demonstrating how debt issuance in the Global South is often used to implement neoliberal and austerity policies, and discuss how this tendency can be stopped from the bottom up.
Dominic Brown is Economic Justice Programme Manager at the Alternative Information & Development Centre (AIDC). AIDC was formed in 1996 in response to the democratic transition in South Africa and the new opportunities and challenges it brought those seeking greater social justice within the democracy.
Over the years AIDC has played a leading role in various civil society responses to ongoing inequality including facilitating the launch and building of the South African Jubilee 2000 debt cancellation campaign, and the Right to Work Campaign.
00:00 Intro by Sara Murawski and Rodrigo Fernandez
05:27 Start of talk Dominic : Countering the Debt Crisis in the Global South
08:38 Emergency of a global debt crisis
12:34 Intensification of neoliberal agenda
16:08 Debt cancellation
19:39 Increased indebtedness vs counterpower
23:19 Popular education demistifying economics
25:00 Q&A: Debtor-creditor relations
30:55 Q&A: Debt services costs and Good debt and bad debt
40:14 Q&A: The role of movements. NGOs. Left parties
48:20 Q&A: Regulation of private bond holders and Zambia
50:26 Q&A: Follow up: Zambia, new dynamic. Chinese debt, worsening situation?
53:11 Q&A: Effects of worldwide crisis on the debt crisis in South.
54:47 Q&A: Global movements? Strategies?
56:25 Q&A: Debt service cuts through rate costs and QE by SA Central Bank?
1:01:26 Wrap up Sara
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