#406: Debt-Based Colonialism and Structural Adjustment with Alex Gladstein
TFTC: A Bitcoin Podcast
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The Global South and Development Banks
Ever since 1982, the total flow of funds has been from the global south to the global north. The IMF comes in and says, hey, we're gonna help you, but this is a risky endeavor for us. So they use the cancel on effect. They get access to cheap dollars at lower interest rates at the core, and they sell it to poor countries at higher rates. But in the end, what ends up happening is you gotta country like Ghana. It's already paid, so it's like paid back,. Like Britain's been paid back, okay? So Ghana's given 10 million, okay? Now it gives another 15 million over the course of the loan for P&I
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