Over forty years after the formal end of colonialism, suffocating ties to Western financial systems continue to prevent African countries from achieving any meaningful monetary sovereignty. Economic and Monetary Sovereignty in 21st Century Africa traces the recent history of African monetary and financial dependencies, looking at the ways African nations are resisting colonial legacies. Using a comparative, multi-disciplinary approach, this book uncovers what went wrong after the Pan-African approaches that defined the early stages of independence, and how most African economies fell into the firm grip of the IMF, World Bank, and the EU's strict neoliberal policies. This collection is the first to offer a wide-ranging, comparative and historical look at how African societies have attempted to increase their policy influence and move beyond neoliberal orthodoxy and US-dollar dependency. Economic and Monetary Sovereignty in 21st Century Africa is essential reading for anyone interested in the African quest for self-determination in a turbulent world of recurring economic and financial crisis.

While the revolutionary leftist movements of the 1960s and '70s in Europe, the United States and Latin America have been the subject of abundant literature, similar movements that emerged in Africa have received comparatively very little attention. This book sheds new light on these political movements. Africa's left were extremely active in these years. With pro-Soviet movements, Maoism, Trotskyism, Guevarism, Pan-Africanism and the Black Panthers, the rumble of revolution was felt across the continent. From feminist student rebels in Nigeria to pro-democracy moments in Liberia, the exciting and complex interplay between these many actors changed Africa forever. Can we see echoes of these movements in African politics today? What can we learn from the people who lived through these decades? This unique collection will open the eyes of leftists across the world who will find new and important insights into an important chapter in global history.

Over forty years after the formal end of colonialism, suffocating ties to Western financial systems continue to prevent African countries from achieving any meaningful monetary sovereignty. Economic and Monetary Sovereignty in 21st Century Africa traces the recent history of African monetary and financial dependencies, looking at the ways African nations are resisting colonial legacies. Using a comparative, multi-disciplinary approach, this book uncovers what went wrong after the Pan-African approaches that defined the early stages of independence, and how most African economies fell into the firm grip of the IMF, World Bank, and the EU's strict neoliberal policies. This collection is the first to offer a wide-ranging, comparative and historical look at how African societies have attempted to increase their policy influence and move beyond neoliberal orthodoxy and US-dollar dependency. Economic and Monetary Sovereignty in 21st Century Africa is essential reading for anyone interested in the African quest for self-determination in a turbulent world of recurring economic and financial crisis.

Colonialism persists in many African countries due to the continuation of imperial monetary policy. This is the little-known account of the CFA Franc and economic imperialism. The CFA Franc was created in 1945, binding fourteen African states and split into two monetary zones. Why did French colonial authorities create it and how does it work? Why was independence not extended to monetary sovereignty for former French colonies? Through an exploration of the genesis of the currency and an examination of how the economic system works, the authors seek to answer these questions and more. As protests against the colonial currency grow, the need for myth-busting on the CFA Franc is vital and this expose of colonial infrastructure proves that decolonisation is unfinished business.

The Covid-19 pandemic has brought the nagging issue of the Global South's debt back into the spotlight. With declining export earnings and tax revenues, many countries in Africa, Latin America and Asia have found themselves objectively unable to service their foreign currency debt. This situation, reminiscent of the international debt crisis of the 1980s and 1990s, is the backdrop of the 38th volume of the Research in Political Economy series edited by Ndongo Samba Sylla. In Imperialism and the Political Economy of Global South's Debt, expert contributions connect the history of this issue with a range of factors including class dynamics, the changing landscape of sovereign debt markets, the global liquidity cycle, the enduring constraints of commodity dependence, ecological sustainability and the limitations of the current ad hoc sovereign debt restructuring procedures. In contrast to orthodox accounts that view debt crises in the Global South as a cyclical problem or as consequences of 'mismanagement' or 'fiscal irresponsibility'. Imperialism and the Political Economy of Global South's Debt recognises the systemic nature of the Global South's external debt, revealed only further by the economic uncertainty of the Covid-19 pandemic, as well as the need to analyse it in relation to existing imperialist structures.

Colonialism persists in many African countries due to the continuation of imperial monetary policy. This is the little-known account of the CFA Franc and economic imperialism. The CFA Franc was created in 1945, binding fourteen African states and split into two monetary zones. Why did French colonial authorities create it and how does it work? Why was independence not extended to monetary sovereignty for former French colonies? Through an exploration of the genesis of the currency and an examination of how the economic system works, the authors seek to answer these questions and more. As protests against the colonial currency grow, the need for myth-busting on the CFA Franc is vital and this expose of colonial infrastructure proves that decolonisation is unfinished business.

The Fair Trade Scandal takes aim at the Fair Trade consumer movement which many assume to be entirely benign. Through a razor-sharp analysis based on insider knowledge, Ndongo Sylla shows that there is a big gap between the rhetoric of Fair Trade and its practical results. Sylla shows empirically that Fair Trade excludes those who need it the most and that its benefits are essentially captured by the wealthiest groups in the supply chain. Based on his experience of working for Fairtrade International, Sylla shows the flaws in the Fair Trade system which compromise its ethical mission. The Fair Trade Scandal is both a provocative and deeply informative exploration of the Fair Trade phenomenon, suitable for specialists and non-specialists alike.

The engaging and wide-ranging discussions published here explore contemporary political realities in Africa through a 'social movement' lens. Detailing the nuances of social movement politics in 12 West African countries during the 2010-2013 period, they present a chronicle of the socio-political struggles that have taken place in the region. In so doing, this volume answers key questions related to these movements. What logic drives them? What forms do they take? What has been their political impact? Can we speak of a resurgence of social movements? If so, are these a response to the crisis of 'representative democracy'? Did they give rise to new forms of expression and democratic participation? What challenges do they bring? Discontent vis-a-vis liberalism in its political and economic dimensions seems to be the trigger of the numerous popular uprisings and protests that occur in the region. In spite of their ambiguities and limitations, these struggles currently seek to remove a double disconnect: that between citizens and the 'representatives' and that between the economy and society, between what capital wants and what the people aspire to. Ndongo Samba Sylla, the editor of this volume, is a Senegalese economist, programme and research manager at the West Africa Office of the Rosa Luxemburg Foundation. Author of The Fair Trade Scandal. Marketing poverty to benefit the Rich(translated from French by Pluto Press 2014), he is the editor of "Rethinking Development" (Rosa Luxemburg Foundation 2014). His recent research work deals with the history of the word 'democracy'. Contributing authors: Ibrahim Abdullah - Souley Adji - Kojo Opoku Aidoo - Francis Akindes - Alpha Amadou Bano Barry - Fernando Leonardo Cardoso - Lila Chouli - Modou Diome - Moussa Fofana - Claudio Alves Furtado - George Klay Kieh Jr - Claus-Dieter Konig - Severin Yao Kouame - Fode Mane - Issa N'Diaye - Zekeria Ould Ahmed Salem - Ndongo Samba Sylla"

From the single party model to "representative democracy," from structural adjustment policies to reforms on enhancing "competitiveness" and improving the "business environment," almost all fashionable political and economic models have been experimented on the African continent. Yet, they all clearly failed, as attested by the majority of socio-economic indicators in the areas of nutrition, health, education, employment, etc. According to UN forecasts, Africa will account for a quarter of the world's population by 2050. If Africa is still unable to adequately address the problems faced by its billion inhabitants, how will it do it when its population doubles? Beyond the critique of neo-liberalism, there is therefore a pressing need to reflect about alternatives that will help Africa back out of this dead-end and find its own path. This is the perspective adopted by this book edited by Ndongo Samba Sylla, which compiles contributions of experts on Africa's development issues. Can democracy help to achieve the changes that Africans aspire to? If yes, under what conditions? Otherwise, what is the alternative? How can Africa break with neo-colonial practices that prevent its political, economic and cultural emancipation? What role is there for women in these processes? In view of the paralysis and treason of elites, can social movements be harbingers of the much-awaited radical shifts? What contribution could the private media bring in implementing people-centred alternatives? Rethinking Development attempts to provide answers to these essential questions.