In Your Money or Your Life! Eric Toussaint traces the origins and development of the crisis in global finance. Toussaint analyses the role of the World Bank, the IMF and the political restrictions they impose, examines the Structural Adjustment Programs of the 1990s, and reviews the neo-liberal policy of globalisation, which, he argues, has now run out of steam. He outlines differing experiences of debt, drawing on case studies from Argentina, Mexico, Rwanda, Eastern Europe, Sub-Saharan Africa, Latin America and South-East Asia to demonstrate the failure of the IMF/World Bank models of development. Calling for a more humanitarian and egalitarian system of handling Third World debt, this is a rigorous reassessment of global finance.
Eric Toussaint is president of the Brussels-based Committee for Cancellation of the Third World Debt and is a Fellow and frequent lecturer at the International Institute for Research and Education in Amsterdam. He edits the journal Les Autres Voix de la Planete and co-edited the anthology IMF/World Bank/WTO: The Free-Market Fiasco (Amsterdam, 1995). Raghu Krishnan is a translator, interpreter and journalist. His articles have appeared in the Economic and Political Weekly (Bombay), Monthly Review (New York) and International Viewpoint (Paris). He translated Claude Jacquin's book The Trade-Union Left and the Birth of a New South Africa (IIRE, Amsterdam, 1999). He currently lives in Paris.