IMF in Africa

Kevin Robert Dean qualiall_2 at yahoo.com
Mon Nov 26 08:52:47 PST 2001


By the way, good resources for LBOers are: http://www.worlddebt.com and http://www.worldexploitation.com

These are NOT activist sites, but rather part of the World News Network which uses some sort of search algorhythm in regards to globaliization--KRD

Ogunkelu Condemns Adoption of IMF, World Bank Blueprints <http://quotes.freerealtime.com/dl/frt/N?art=C2001112200326u6974&SA=Latest%20News>

Nov 22, 2001 (Daily Trust/All Africa Global Media via COMTEX) -- The Minister of Cooperation and Integration in Africa, Dr. Bimbola Ogunkelu has condemned the adoption of economic blueprints designed by the political leadership in conjunction with the World Bank and the International Monetary Fund (IMF).

In a paper he presented at a seminar organised by UNESCO in Paris recently, Ogunkelu said the practice of involving international capital markets in the design of African nations' economic blueprints portrayed the monetary agencies in negative light among the citizens of affected nations.

"To fully involve Africans in international partnership activities, African citizens should be effectively involved in the negotiations and planning which are expected to be as open as possible," he said.

He said through such participatory processes, Africans would be empowered to shape their own prosperity and destiny.

Ogunkelu said it was necessary to strengthen the capacity building of Africans for international partnership through the process of regional economic development and integration.

The minister said external financial and technical support could be made more relevant and meaningful for African countries if they were supportive of genuinely indigenous options for development, rather than those imposed from outside the continent.

"One of the woeful lingering legacies of African international partnerships is the excruciating external debt burden. To make intentional partnership meaningful, ways and means of wiping off the staggering foreign debts of African countries must be found and implemented," he said.

by Ahmed Shekarau

Copyright Daily Trust. Distributed by All Africa Global Media(AllAfrica.com)

 KEYWORD: Nigeria

===== Kevin Dean Buffalo, NY ICQ: 8616001 http://www.yaysoft.com

__________________________________________________ Do You Yahoo!? Yahoo! GeoCities - quick and easy web site hosting, just $8.95/month. http://geocities.yahoo.com/ps/info1



More information about the lbo-talk mailing list