Monday, April 20, 2015

IMF - Exploiter

Between June 1995 and October 2006 Ghana had three arrangements with IMF under various disguise phrases such as Enhance Structural Adjustment Facility and Poverty and Growth facility. It again recently agreed with the Ghana Government a programme worth $940 million said to aim at overcoming the country's economic challenges, supporting stronger economic growth and lower inflation.

It is worth mentioning that no singular institution in our time has facilitated the devastating spread of poverty in Ghana and for that matter in other African countries than the International Monetary Fund. IMF, other Western financial institutions and donor agencies have remain mere fronts for Western profiteers instead of being a genuine partner in our development agenda that aim at taking our people out of vicious cycle of poverty.

It has always been the IMF policy to perpetually keep its 'business partners' in debts. This is the only way, it believes the business it does, that is making money for its owners, can be sustained. Over the years the IMF has hook on unto its crooked system of compound interest which has made countries in developing world perpetually poor. Such policies and strategies should be a source of concern to our leaders and those conduct business with the IMF on our behalf. The conduct of IMF and other Western financial institution is becoming increasingly questionable.

It is important that as a country we do all that it takes to wean our country from the control of IMF, the World Bank and other Western financial institutions that continue exploit our country for their comfort and pleasure. The imperialist agenda is relentless and the system they put in place to subjugate developing countries and importantly Africa countries so many years ago is still on course.

No comments: