North Africa and the Middle-East: A new wave of debt.
In the first three parts we have observed the evolution of the DCs’ external debt over the last twenty years. The first part shows a dramatic increase of indebtedness, which multiplied by 2.5 with a steep acceleration from 2008 onward. The second part highlights the main threats on the DCs’ external debt, among which the growing significance of bonds, the evolution of interest rates and the depreciation of their currencies against the U.S. dollar. The third part examines the various factors that lure DCs into the debt trap: dependence on commodities, drop in foreign exchange reserves, inflating repayments, conjuncture of a multi-dimensional crisis aggravated by the COVID-19 pandemic, etc.
We deepen our analysis by focusing on various regions. After Latin America and the Caribbean and Sub-Saharan Africa, we continue with the Middle-East and North Africa (MENA).
A Savage War of Peace: Algeria 1954-1962
The Algerian War lasted from 1954 to 1962. It brought down six French governments, led to the collapse of the Fourth Republic, returned de Gaulle to power, and came close to provoking a civil war on French soil. More than a million Muslim Algerians died in the conflict and as many European settlers were driven into exile. Above all, the war was marked by an unholy marriage of revolutionary terror and repressive torture.
The Algerian Civil War
The civil war in Algeria shows no sign of imminent resolution. Yet little has been written about the conflict, its various participants, and the opinions of Algerians―indeed, even about what exactly is being fought over. Restrictions on movement within Algeria have severely limited the ability of foreign journalists to analyze these issues, and there has been a paucity of firsthand accounts of how the conflict has played out across Algeria.
The Paradox of Plenty: Oil Booms and Petro-States (Studies in International Political Economy)
The Paradox of Plenty explains why, in the midst of two massive oil booms in the 1970s, oil-exporting governments as different as Venezuela, Iran, Nigeria, Algeria, and Indonesia chose common development paths and suffered similarly disappointing outcomes. Meticulously documented and theoretically innovative, this book illuminates the manifold factors—economic, political, and social—that determine the nature of the oil state, from the coherence of public bureaucracies, to the degree of centralization, to patterns of policy-making.