Colonialism and Debt: How debt is used to exploit and control
Channel: Debt Justice
Date: 2022-09-21

Right now, 54 countries are in debt crisis. This is not an accident. 
 
For centuries, powerful governments, institutions and corporations have used debt to control and plunder the resources of countries in the global south for their own gain.  
 
But this is often left out of discussions on global south debt.
 
Instead, the issue is repeatedly presented as technical at best, or the fault of corrupt and inefficient global south governments at worst.  

Civil society, communities and organisers are exposing how debt has been used to exploit and extract over the last century. From colonial powers forcing countries into debt at the point of independence, to allowing corporations like BlackRock to continue to make huge profits from debt repayments today, we can’t fight today's debt crisis without understanding its roots.  

Lower income country debt is a legacy of colonialism and a tool for those in power to maintain a system of extraction and exploitation.
 
#DebtJusticeIsRacialJustice
#DebtJusticeIsClimateJustice
#DebtIsExploitation

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Debt Justice are part of a global movement to end unjust debt and the poverty and inequality it perpetuates. Only together can we build a fair economy that serves people and the planet.

Voice over: Tati Garavito
Video: Andy Redwood
Music: Timpani Beat by Nana Kwabena via YouTube Audio Library