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Sub-Saharan Africa After 2000

In: China versus the US, World Bank and IMF in Sub-Saharan Africa

Author

Listed:
  • Lynne Ciochetto
  • Usha C. V. Haley
  • George T. Haley

Abstract

External agents have been exploiting Sub-Saharan Africa (SSA) since the beginning of the slave trade. The agents of contemporary exploitation include multilateral and bilateral agencies, governments through their aid and loans and multinational companies. Key tools of recent exploitation have been the leveraging of debt and the imposition of neoliberal policies. Local elites implemented the neoliberal policies in order to continue borrowing (Bond, 2006). SSA has also been subject to evolving ‘fashions’ in development theory and practise, dominated by the World Bank (WB) and International Monetary Fund (IMF) (the Bretton Woods Institutions or BWIs). Since the late 1970s, the result of these policies has been to increase the net outflow of wealth from Africa (Action Aid, 2005)…

Suggested Citation

  • Lynne Ciochetto & Usha C. V. Haley & George T. Haley, 2023. "Sub-Saharan Africa After 2000," World Scientific Book Chapters, in: China versus the US, World Bank and IMF in Sub-Saharan Africa, chapter 2, pages 15-67, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9781783266685_0002
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    More about this item

    Keywords

    Sub-Saharan Africa; China; Development; Neo-Colonialism;
    All these keywords.

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations

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