The IMF and World Bank are two financial institutions helping to keep
Africa poor and dependent on its crippling loan for economic growth
that is hard to achieve
Composed by Kevin Onuma,
The
International Monetary Fund (IMF) and
World Bank,
both controlled by the same people, are one of Africa’s biggest
problems. This two financial institutions are well-known for imposing
conditions that cripples the African continent, slows development, and
keep Africa in poverty.
For this reason, former Libyan leader,
Muammar Gaddafi
pledged to fund three ambitious African projects — the creation of an
African investment bank (in Libya), an African monetary fund (in
Cameroon) and an African central bank (in Nigeria).
Africa felt that these Africa-centered institutions were necessary to
end its dependence on the IMF and the World Bank — institutions that
prescribe unrealistic and unpopular measures to qualify for loans. These
conditions as mentioned above, include measures to privatize natural
resources and allowing unlimited access to foreign companies are
designed to keep Africa eternally poor or dependent on the West.
An
analysis by Jean-Paul Pougala
from Cameroon states that the US $30 billion frozen by Mr. Obama belong
to the Libyan Central Bank and had been earmarked as the Libyan
contribution to three key projects which would add the finishing touches
to the African federation – the African Investment Bank in Syrte,
Libya, the establishment in 2011 of the African Monetary Fund to be
based in Yaounde with a US$42 billion capital fund and the Abuja-based
African Central Bank in Nigeria which when it starts printing African
money will ring the death knell for the CFA franc through which Paris
has been able to maintain its hold on some African countries for the
last fifty years. It is easy to understand the French wrath against
Gaddafi.
The African Monetary Fund is expected to totally supplant the African
activities of the International Monetary Fund which, with only US$25
billion, was able to bring an entire continent to its knees and make it
swallow questionable privatization like forcing African countries to
move from public to private monopolies. No surprise then that on 16-17
December 2010, the Africans unanimously rejected attempts by Western
countries to join the African Monetary Fund, saying it was open only to
African nations.
“That man has invested in Africa more than any other leader in the
recent history of Africa’s coming into political independence,” says
Minister Farrakhan in a speech citing the West’s desire for Gaddafi’s
death.
“One of the greatest powers of America was her dollar. The loss of
such power will bring any nation to weakness, for this is the media of
exchange between nations.”
When Gaddafi called on all Oil producing countries in Africa NOT to
accept payment for oil in paper currencies any longer such as the US
Dollars or Euros, but rather introduced Gold Dinar as the new medium of
exchange. This initiative shook the Western economies that Obama and his
allies had to move swiftly towards killing Gaddafi and take over it’s
oil reserve, including pushing AFRICOM dominance of the continent.
Analysts say Gaddafi introducing the Gold Dinar as the new medium of
exchange would destroy dependence on the U.S. dollar, the French franc
and the British pound and threaten the Western world. It would “finally
swing the global economic pendulum” that would break Western domination
over Africa and other developing economies.
The lynching of Col. Gadhafi can be understood in the context of
America and Europe fighting for their survival, which an independent
Africa jeopardizes.
To conclude, IMF and World Bank have people like Barack Obama and
other presidents including those of the African continent, helping to
push policies and agenda that continues to keep Africa in poverty, hence
making economic growth hard to achieve. Do a Google search for “
IMF and World Bank in Africa”
and you’ll find several information on how this two institutions have
been stalling the growth of the African continent (mind you, some of the
results Google displays are nothing but propaganda – by pass those),
keeping the economy dependent on loans with huge interests, making sure
Africa remains in poverty, just to name a few. All this are accomplished
with the help of the leaders you, you, and you are continuously
electing. Stop voting for this clowns – they do more harm than good.
There’s a saying that the people have forgotten how powerful they are.
This unbiased report is filed under:
Africa Report
Source:
Inform Africa
Africason is a die-hard believer in Africa.
Twitter: @african_school
Web: www.africason.com
Email: info(AT)africason.com
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