August 26, 2022
9:00 AM Argentina
12:00 NN Senegal
5:30 PM Sri Lanka
8:00 PM Philippines
10:00 PM Sydney
Current global economic conditions are characterized by slow economic growth and high unemployment while the prices of basic commodities such as food and fuel are skyrocketing.
Global inflation is projected to increase to 6.7% in 2022, twice the average of 2.9% from 2010-2020. Global debt has reached an unprecedented high of $303 trillion, surpassing the numbers of the 1980s crisis. More than half of low-income countries are in debt distress or at high risk of it. Outside the low-income category, Sri Lanka, Ghana, El Salvador and Tunisia are particularly vulnerable to default. On May 20, 2022, Sri Lanka officially defaulted as its economy collapsed. This economic shockwave is fueling social unrest across the world. Daily protests have erupted over rising food prices, debt crisis, and calls for regime change.
This webinar will cover the current global stagflation, debt crisis, and how the people around the world respond to the economic and political challenges.
Co-organised by the People Over Profit (POP) Network, the International League of Peoples’ Struggle (ILPS) Commission 2, and the Asia Pacific Research Network (APRN)