Sovereign Debt and Colonial Legacy

This chapter explores the complexities of sovereign debt, particularly in Global South countries, and contrasts it with personal debt. It delves into the historical context of debt crises, highlighting how colonialism and decolonization have shaped current financial dynamics, particularly the burdens imposed by private lenders and the impact of international rating agencies. Additionally, the chapter addresses the moral implications and systemic disadvantages faced by borrowing nations, using examples like Sri Lanka and Haiti to illustrate ongoing struggles with debt sustainability.