World Bank, IMF, are back to Africa only that this time we were first to visit them
Now we are back at it, with the Bretton Woods imposing austerity. But they didn’t ride on horseback down from the hills and impose them on African governments at gunpoint. Our leaders went to Washington with hat in hand to beg for the loans. ILLUSTRATION | JOSEPH NYAGAH | NMG
In the last few years, Africa has rediscovered an old enemy in the shape of the International Monetary Fund (IMF) and World Bank – the so-called Bretton Woods institutions.
Now, the Bretton Woods institutions have a lot to answer for in Africa, but they are being crucified for the wrong sins.
