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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 crises.
This is an important contribution both to advancing theoretical and empirical understandings of African monetary sovereignty and to putting problems and possibilities relating to African monetary sovereignty on the political agenda. This is of utmost importance, given that these issues have largely not received much attention in contemporary discussions of economic development. Economic and Monetary Sovereignty in 21st Century Africa traces the recent history of African monetary and financial dependencies, looking at the ways African countries are resisting colonial legacies. The collection of chapters is diverse and highly interesting, offering comparative and historical analyses of how African countries have attempted to increase their policy space and move beyond various forms of monetary dependence. The collection is based on a conference in Tunisia in 2019 (watch the videos from the conference here).