How the World Bank and the IMF destroy Africa

jim yong kim world bankThe World Bank and the IMF (the International Monetary Fund) were set up during the end of the Second World War to rebuild the economies of Europe. However, in order for the world bank and the IMF to implement their policies, they (the world bank and the IMF) began offering loans to poor countries but only if the poor countries privatized their economies and allowed western corporations free access to their raw materials and markets.

That was a poverty trap and many poor countries realized it when it was too late. We were already in chains. That was the beginning of much of the problems we face today in Africa. Now we are in a vicious cycle of poverty and there seems to be no way out. The western corporations flourish while the poor in Africa and other parts of the developing world, continue to die in poverty. 

The general perception is that, the World Bank, the IMF and the WTO help fight poverty, hunger and diseases in the developing world. However, in reality, that is very far from the truth. In fact, it is a new form of warfare whereby the rich western corporations employ deception coupled with the poverty of the poor and the ignorance of the innocent as top weapons of mass destruction. In other words, the World Bank, the IMF and the WTO (the World Trade Organization) are the triple enemies of progress in almost every developing country in the world today. Now let's see how the World Bank, the IMF and the WTO operate in Sub-Saharan Africa.

Take a country like Ghana for example. Ghana is blessed with abundance of natural resources. The World Bank and the IMF are very interested in countries such as Ghana where they can easily control the natural resources and the markets.

There used to be some prosperous rice-farming communities in the northern parts of Ghana and the government of Ghana used to give those rice-producing farmers some farming subsidies. The main idea behind the subsidies was to enable the farmers to produce rice on a larger scale to help feed the nation and even export some abroad.

However, the World Trade Organization, the World Bank and the IMF stood in and told the Ghanaian government that they would not give Ghana any more loans unless the Ghanaian government cut the farming subsidies. And the main reason behind it was that, Ghana had to import rice from "partner" western countries such as the United States (a major partner of the World Bank and the IMF).

Ghana now imports most of its rice from abroad at exorbitant prices every year. So at the end of the day, Ghana owes the World Bank and the IMF huge amounts of money in loans. However, the money did not remain in the Ghanaian economy because Ghana had to use the loans to import food from abroad. Meanwhile, the rice-producing communities in Ghana could have helped produce enough rice to feed the nation and even export some abroad to make more profit.

The northern communities in Ghana remain the poorest in the country with no better jobs and no opportunities at all in most parts. Young boys and girls (some as young as 9) are now migrating to the southern parts of the country to major cities and towns such as Kumasi and Accra in search for jobs. It is a very dangerous journey for kids but most of them feel they have no other choice. They undertake this dangerous journey not just for themselves but also for their poor dying families back home. Most of these kids (locally known as "kayayo") never return home. Some die along the way and some return worse than before and all thanks to the IMF, the World Bank and the WTO.

Although the money was returned to them, we still owe them. That is why most developing countries owe the World Bank and the IMF a lot in loans. Sometimes you hear "debt cancellations" and you may think they forgive poor countries their debts but that is not how it works in reality. The World Bank and the IMF never forgive. And because of the huge debts developing countries owe, they (the World Bank, the IMF, the WTO, the United States [a major partner of the World Bank], etc.) control almost all the affairs of these poor countries. In other words, if you don't obey what the World Bank, the IMF, etc. say then you must pay back the debt and because you cannot pay back the debt, you must obey whatever they tell you to do.

Any leader who doesn't obey the World Bank, the IMF, the WTO and Co is often labeled a "terrorist" and must be assassinated in most cases. For example, when there is an oil discovery in a developing country (that owes the World Bank and the IMF) and the leader of that developing country is not ready to co-operate (so western corporations can easily take over the oil exploration), the World Bank and Co quickly get rid of such a leader sometimes through war (take Iraq for example). The World Bank and Co elect their own "obedient" leaders to rule those poor countries so that they (the World Bank, the IMF and Co) can easily control that country's economy and market.

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Pc Wil B
I do believe that these insidious organizations were put in place to simultaneously and precisely disenfranchise and degrade the continent as a whole only for the generational gain and greed of its predecessors. We've been in this unforeseen predicament for far too long now. The vast Majority of the leadership are simply pawns of the oppressors and aren't to be trusted.

The only way for Africa to rise again is for Africans to resist the temptations of the oppressors, including public officials! Refuse their aid and return to their original state of independence. Unfortunately, through the struggles, blood may be shed, but it's for the greater good of the future of Africans on the continent and abroad.
Iorsue Paul Aondona
Apart from the unwholesome relationship between the Western-European countries and Africa, we have also witnessed invasions by these countries under the guise of "Loans and humanitarian Assistance". In the event, they control our resources and since, our leaders are gullible, we are suffering today. Corruption and poor leadership are the flip side to the unfortunate development. African leaders cherish and incubate corruption which has continued to affect the continent.

In the end, I blame African leaders for failing to position Africa and its peoples for better livelihood and human development. A situation where most African countries are dumping grounds for imports, what do we expect?
Onya Adeoye
Yes the West is partially to blame for Africa's current situation, but it is also the fault of Africans themselves for slaughtering each other and electing corrupt politicians whose sole ambitions are to line their own pockets with cash at the expense of the rest of their people. I understand the West is directly responsible for a lot of that as well, but at a certain point, the people have to say enough is enough.

Times are changing though, and I see a very bright future ahead for Africa. I just hope that moving forward, African leaders will wise up and learn from past mistakes. It's time for Africans to look out for themselves and not rely on the West because the West will always be looking for their own interests first.
Gian Paolo Pucciarelli
That's simply part one of NWO's plan. It was created at Bretton Woods 1944, in order to push African countries into debt, through "humanitarian help" loans, then by looting their natural resources, thanks to the dictators the Wall Street's money power elite has set to their leading governments, perfectly in line to her creed "Make world society work for the few". Instead of promoting right investments in African countries to improve their economies, they force African mass migrations to Europe for the simple reason that, a future melting pot European population will be easily under their political control.
K. Ananse
These are the same organizations that sponsor terrorist groups in Africa and other parts of the world. Terrorist groups create that pathway for these so-called world bodies to come in as "peacekeepers". They come in, kill millions of innocent people through their "peace-keeping" activities, and take over the poor country's economy and market. How could they keep peace by dropping bombs on innocent people? Also, nobody was born a terrorist. Most terrorists are desperate people pushed to the limit by the activities of some these evil world governing bodies.
Alpha Traveller
The only way to stop IMF and World Bank from controlling African resources is if the African leaders stood up and form one Africa where they depend on themselves because I believe Africa is rich enough to support itself, solve its problems, use its resources to eradicate poverty and improve health facilities, and this will create better future for Africans and improve livelihoods.
Shivakumar Selvaraj
I was in Egypt and a local guide explained to me how the World Bank destroyed Egypt's economy. They signed an agreement with an Egyptian military official for a massive loan. But with that loan came the condition that the world bank could control Egypt's currency. And as soon as the agreement was made, they proceeded to devalue the currency and send Egypt sliding downhill fast towards poverty.
Walungama Juma
I propose that we start to write our own history and economics books. Most of western and European published books are highly biased. Africa has to unite, and we need our own currency! Possibly we need to cancel all unnecessary agreements that were signed in favor of the non-African.
Gasston
The economic problems of the world are simple. Everyone wants to have more, and the politicians are promising everything to the people to get into positions, so that they can fill their pockets. Most of them have zero technical or management experience. They know nothing about health management or security. Only one part of their body works, their mouths. Take Australia for example. It has enormous mineral as well as agricultural resources. Their manufacturing is falling apart. Their politicians are taking the easy way out. They sell everything to the Chinese for peanuts, instead of building up a large industry making quality products for ten times the price of the raw materials. Then the Chinese produce poor quality products out of it, wasting good raw materials. So, the people have a comfortable time. How long? Eventually everything runs out and the fat, lazy, over vaccinated, sick people with few skills and a closed mind, will, as Crocodile Dundee said, "curl up their toes and die" This applies to many other people and countries in all parts of the world.
Kirandeep
IMF and world bank work are to resolve monetary problems all over the worldwide and facilitate worldwide trade by promoting stability and keep maintaining and control the exchange depreciation. World bank offering the loans to developing nations since they are source of the interest payment, which is very profitable to world bank, like, Philippines was paying the 44% interest in 1980. These are like an exploitation which they force poor countries to do these. In another words, their offered money affecting the farmers or primary sector of the country.
African lives matter
Our leaders are traitors. They work only for their own interest and the interest of western countries. I believe we are selling our products for a price which is next to nothing and mostly we are treating our resources and manpower like a giveaway newspaper and goods. Many of our fellow citizens are leading undignified lives in western countries. It is a modern-day form of Slavery. Slavery in the guise of hospitality. Africans are still subjected to exploitation, incarceration, and other forms of abuses. They are criminalizing us to justify this modern-day slavery. Prisons with pregnant women and children are now referred to as family refugee centers.

You may have heard about western countries who claim to take in millions of migrants. The world is turned left and right by capitalist money and power mongers at the expense of low-class society. Migration and religion have become major money-making grounds. All western countries are turning blind eyes. If you heard that countries like Germany help refugees, that is a complete lie.
Reggie Welles
No - Corrupt African governments and their continuous theft of state funds are the problem. Together with the ignorant citizens whose votes keep them into power. It’s time to stop blaming the west for Africa’s perpetual failures.
BAAITSE PHUPHUWE
Yes, I think as Africans we need to rewrite our history and our economic potentials. Africa will only change if and only if sons and daughters of Africa engage in a constructive manner and establish their interest and cross fertilize their ideas towards building a better Africa.
Robert Watson
I believe it will take all of the diaspora Africans,and the homeland Africans will have to come together (seriously). No borders, one continent, one commander in chief, get their hands on some nukes. Lock off the whole continent, nothing goes in and nothing comes out, then work on a new deal with the world.
Concerned African
America mostly invade other countries for economic gains. If it is not oil, it is gold, timber or other natural resources. And they often do so pretending to be peacekeepers. The IMF, the world bank, the world trade organization and even the united nations are all extensions of America's central government. They are just tools to help America control the world.

America often pretends to be a beacon of hope when it comes to democracy and peaceful transfer of power. This is the image the media portray whenever America tries invading other countries. However, as we all saw in the news not long ago, America has and will always be a pretender. Donald Trump's only crime is revealing how crazy America truly is. If over 75 million Americans could actually vote for a guy like Trump to be president, then how dare Americans go around the world pretending to be the gold standard in wisdom and morality? If Trump is what America considers "normal" then why did America assassinate leaders like Saddam Hussein and Muammar Gaddafi?
Bobert
I don't like the IMF or the WB because they use our Income tax and loans from the Federal Reserve and globalist banks to pay the world. I don't give a "..." about Africa. I only care about America first then, Europe, and Russia. I don't care for the rest of the world unless they are Christians.
Bitwabbly
I hear everyone blaming "the west". But please don't forget that most western countries are in debt to and thus under the control of IMF as well.
Ray Brown
This statement is so true, but the only problem is there is no military might in Africa.