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ID:
186160
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| Summary/Abstract |
The article reviews the positions and policies of Middle Eastern and North African states towards the external ‘debt crisis’ of the 1980s within the context of contemporary debates and negotiations held at regional and international levels. MENA countries shared many commonalities with their developing partners across the postcolonial world and participated actively in the debates within multilateral organizations, such as the United Nations Conference on Trade and Development (UNCTAD). Because standard borrowing in the MENA was public, bilateral and closely tied to politics, the article argues for the relevance of regional factors in shaping the course of the debt crisis in the MENA region, and challenges the common visions for which Western creditors could manage external debt as an effective ‘lever’ for introducing neoliberal policies: oil endowment, armed conflicts and alliances shaped the timing and results of the debt crisis in the MENA. The research is based on an extensive review of regional and international literature coupled with documents and proceedings from the UN organizations.
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| 2 |
ID:
186158
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| Summary/Abstract |
The year 2022 marks the fortieth anniversary of the 1982 Mexican debt crisis, the first of a long series of financial turbulences that would soon spread to most of the developing world and beyond. Ever since, international historiography has produced a wide arrange of analyses that, despite their diversity, came to see the 1980s international debt crisis as a momentous event through which the United States and Western Europe reimposed their financial hegemony over the decolonised world and socialist camp. The contributions to this special issue of Middle Eastern Studies primarily aim at reassessing the process that brought economic neoliberalism throughout the Middle East and North Africa (MENA) in the context of debt crises. In particular, they challenge ‘teleological’ views that see the opening to market economy as a result of the creditors’ agenda, thus depriving actors in debtor countries of their agency. The essays published herein explore the levers, instruments and policy-making process to which debtor states resorted to shape their own integration process in the global neoliberal economy.
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| 3 |
ID:
088342
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