What are the effects of debt on the developing world? (Part 2)
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About the video: ‘What are the effects of debt on the developing world? (Part 2)’
In this two-part series, Martin Khor addresses issues relating to debt and international trade. Since the debt crisis began in the 1970s, many developing countries have had to agree to new loan conditions imposed on them by the International Monetary Fund (IMF). These conditions, of benefit to many western commercial interests, often prevent national governments from implementing their own key economic, development and environmental policies. Trade liberalization is one such condition. Dr Khor describes the adverse effects a liberal trade agenda can have on these countries, particularly on their farmers and small industries. He argues that developing countries must be given the freedom to adopt policies of their own. Finally, he welcomes the G8’s decision to cancel the debt of some 18 countries, but warns that the terms and scope will need careful study.
Total views: 3,984
Filmed: London, UK on 15 July 2005
Credits: Interviewer - Marcus Morrell Camera and Editor - Marcus Morrell
Copyright © 2005 Big Picture TV
About Martin Khor
Martin Khor is the Executive Director of the South Centre (an intergovernmental organisation of developing countries based in Geneva, Switzerland) since 1 March 2009.
He is the former Director of the Third World Network (TWN). He has led TWN since its inception in 1984, advocating on behalf of citizen groups throughout the developing world on a wide number of development issues. These include environmental sustainability, the protection of human rights and the impact of corporate-led globalization. A former economist and university lecturer, he is also an advisor and consultant to a number of United Nations agencies and other important international bodies. Dr Khor is author of several books on WTO reform, international trade and the global economy.
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Recorded: 15 July 2005
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