Portside

Burdened by decades of neocolonialism and corruption, Senegal faces an all-too-familiar dilemma faced by countries across the Global South: how to pursue sovereign development under the weight of debt.

The new chief of the BRICS bloc’s New Development Bank, Brazil’s leftist ex-President Dilma Rousseff, revealed they are gradually moving away from the US dollar, promising at least 30% of loans in local currencies of members.