Chapter 15 Learning Objectives

Debt and Development

To learn that lending has a long history and that even lending to developing countries goes back 700 years.
To understand the roots of the debt crises of the 1980s and 2000s and the similarities between the most recent financial crisis in the North and earlier debt crises in the Global South.
To see how lending to developing counties is linked to economic cycles and capital surpluses and to “loan pushing” and default and to recognize the role of the South as lender to the North.
To understand the concepts of illegitimate and odious debt and changes in lending that increase the liability of lenders.