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Podcast: Bungacast
Episode: /367/ Donβt Pay Them Back ft. Jerome Roos
Description: On sovereign debt and taking back control.
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The leading candidate in Argentina's election this month wants to avoid defaulting on the country's debt at all costs. But back in 2001, after a mass revolt, Argentina reneged on its debts β one of the very rare cases over the past 70 years of unilateral default.Β
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Why are nations so eager to pay back creditors nowadays, especially when it means endless austerity and little prospect of economic development?
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We talk to scholar Jerome Roos about his book, Why Not Default? and discuss a range of cases: Mexico, Greece, Zambia, Sri Lanka, Ghana - and of course...