India’s oldest Socialist Weekly!
Editor: Dr. G.G. Parikh | Associate Editor: Neeraj Jain | Managing Editor: Guddi
The new National People’s Power government, with 67% of parliamentary seats, shows every sign of intending to reduce corruption, obey the law, respect expertise, negotiate political solutions to pressing problems and generally rule in accord with the instincts of the educated, middle class professionals who provide so much of its ideological and organisational heft.
IMF’s solution for Lankan debt crisis could be a case of the cure being worse than the disease.
The deeper reasons behind the Sri Lankan crisis are Sinhalese Buddhist majoritarianism, authoritarianism of the Gotabaya regime, violent targeting of minorities, brutal methods adopted to curb press freedom and deliberate curbing of the culture of scrutiny of public policies.
Numerous Western political leaders and media outlets have blamed the Sri Lankan crisis on a supposed Chinese “debt trap”. In reality, the vast majority of the South Asian nation’s foreign debt is owed to the West.
Sri Lanka’s citizens’ movement known as the Janatha Aragalaya (Peoples’ Struggle), notched its most significant victory yet, when Gotabaya Rajapaksa announced that he would quit on 13 July. The Rajapaksas have tumbled. The system that spawned them has not.
Like Colombo, Dhaka has also taken on massive foreign loans to embark on what critics call “white elephant” projects. The economic turmoil in Sri Lanka should serve as a cautionary tale, say experts.
A Sri Lankan delegation will travel to Washington next week to try to secure up to $4 billion from the IMF to help the island nation pay for food and fuel imports as well as stem defaults on its debt. Eric Toussaint highlights the potential risks of an IMF bailout.
Janata Weekly is India’s oldest independent socialist weekly.
Ever since its founding in 1946, Janata has voiced its principled dissent against all conduct and practice that is detrimental to the cherished values of nationalism, democracy, secularism and socialism, while upholding the integrity and the ethical norms of healthy journalism. For more than seventy years now, week after week, it has continued to analyse the changes taking place in the country and the world from a socialist standpoint, and thus promote the spread of socialist ideology in the country.
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