Africa's Odious Debts: How Foreign Loans and Capital Flight Bled a Continent

Date: Monday 10^th October, 7-9pm

Venue: Khalili Lecture Theatre, SOAS

Join us to celebrate the release of Africa’s Odious Debts with authors James Boyce and Leonce Ndikumana. In the book Boyce and Ndikumana reveal the shocking fact that, contrary to the popular perception of Africa being a drain on the financial resources of the West, the continent is actually a net creditor to the rest of the world. The extent of capital flight from sub-Saharan Africa is remarkable: more than $700 billion in the past four decades. But Africa’s foreign assets remain private and hidden, while its foreign debts are public, owed by the people of Africa through their governments.

Ndikumana and Boyce reveal the intimate links between foreign loans and capital flight. Controversially, the authors argue that African governments should repudiate these ‘odious debts’ from which their people derived no benefit, and that the international community should assist in this effort.

Speakers

 James Boyce and Leonce Ndikumana (Authors)

Respondent

John Christenson (Director, International Secretariat, Tax Justice Network)

Chair