When history repeats itself, the first time is a tragedy; the next is a farce. If we fail to learn from past financial crises, we risk making avoidable errors, often with irreversible, even tragic consequences. Between rock and hard place Many people worldwide suffered greatly during the 2008-2009 global financial crisis (GFC)
Author: Jomo Kwame Sundaram Ong Kar Jin
Global South stagnating under heavier debt burden
Much higher interest rates – due to Western central banks – are suffocating developing nations, especially the poorest, causing prolonged debt distress and economic stagnation. US Fed-induced stagnation After the greatest US Fed-led surge in international interest rates in more than four decades, developing countries spent $443.5 billion to service their external
How consultancy firms undermine governments
Greater government reliance on consulting companies has greatly enriched them while also undermining state capacities, capabilities, national economies, progress, governance and legitimacy. The Big Con Over recent decades, policy consultancy has gradually gained more public attention. With the COVID-19 pandemic, consultancies were paid billions, with meagre results, leaving even less for millions