The International Monetary Fund has just released its economic outlook for Sub-saharan Africa – and it is quite depressing to read. The title alone says ‘Living on the Edge.’ In a nutshell that means: a doubling of inflation, the recovery stalling, one in eight people in the region on the brink of starvation,
while rising costs and prices are increasing social tensions.
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#imf #africa #economy
So…nothing new then…
About 50% of young adults in sub-Saharan Africa say that they plan to emigrate from their country/continent.
The IMF is no longer relevant. Itself is in hot soup having to bail out Ukraine and European countries without the same kinds of conditions imposed in African and poor countries. No one needs to listen to its proclamations and praises.
Education and birth control are key to reducing poverty and hunger.
Having a child that you can not provide for yourself is cruel and irresponsible.
Population needs to be in balance with jobs, resources, nature and the environment. Having a bigger population in any country than the country can support makes no sense. Access to food, water, shelter, energy and jobs should guide population levels. The worlds population is still expected to add another billion people to feed, clothe and produce pollution. Humans are crowding out all other species of plants and animals. Education and birth control are key to reducing poverty and hunger. Having a child that you can not provide for yourself is cruel and irresponsible. We need solutions not just sympathy. Endless population growth is not sustainable on a finite planet. Every country needs to "TRY" to be more self sufficient. When there are not enough resources to sustain a population something has to give. Countries need to focus on quality of life for their citizens and not just quantity of life for cheap labor. Why import fossil fuels when wind and solar energy can be produced locally and solar energy can power electric vehicles. We need solutions not just sympathy.
Quite a deceptive explanation by this woman from the IMF. Of all the things she should have mentioned, she didnt.
In reality, African States are still cancered by corruption and cripple themselves by reverse racism. Politically, they remain highly insecure leaderships and ineffective as governments of sustainable change.
There are plenty competent farmers in Sub Saharan Africa, problem is they're white/other that doesn't suit the ballot. There is also no shortage of willing local businessmen and foreign investors to meet the challenges of a growing Africa. Problem is, crime is high and governments don't create an environment suitable to investment. Coupled to unreliable electricity, Trade Unions destroy any remaining will investors may have to buy in, while start up kickbacks are often expected.
With excuses like the Ukraine war and loss of fertilizers etc., the IMF dont even meet the half truths of Africa. They're just remaining polite to keep their foot in the door.
They are plenty fertilisers under manufacture in many countries but governments make more money quickly by raising prices at the till. History shows that African leaders have never been overly concerned about food security and agricultural development. Why should they when they can rule by the barrel of a gun and food aid is just around the corner.
African governments are so mineraly rich but poverty abounds, mainly because they are dictatorships. Democracy in Africa and democracy off the continent are only spelt the same. And talk remains cheap.The U.N. and African governments are equally as ineffective, both institutions regularly get together to discuss direction but generally nothing ever gets done.
There's no shortage of goodwill to develop Africa and in Africa there's no shortage of money. African leaders simply refuse to distribute the wealth fairly. Still, too many African leaders are dogs in a manger Like Putin described it, 'the continent of Africa will become a graveyard for its Presidents'.
Africa just needs equal education and health care… Coz a well educated & healthy continent is equal to 1 in 50 stable not poor – 99% of genocide + 90% unity 10% pending but not causing deadly scenes only buck no bite…
Pls stop, this same IMF published a growth rate close to 4 percent for Africa and here they are claiming Africa is in a precarious situation. Western media have orgasm when reporting false narrative and bad news on Africa. The whole world is facing a recession but Africa that is growing is the one in a precarious situation.
Imf needs to worry about the poverty of Europe 🇪🇺
People need to be able to perceive and understand the steps toward independent stability.
NATO expasions and over used of sanctions by the western nations is the major causes of economic suffering in the African continent said majority of economists in privates and publics discussions period.
For my country Liberia inflation is reducing.
The IMF exists to create debt, and banker wars.
"IMF states that Africa's economy is in a precarious position." Very good Sherlock! (Give me a break!)
More illegal border crossing to Europe .
Africa wants to support Russia perhaps Russia should be responsible for helping Africa now. I don't see how feeding tomorrow's enemies works for America over time.
Africa has loads of profitable resources… so sooner Africa takes control, and stops revering the hands that oppress them all the better.
EU is now in recession so now suddenly IMF is worried about Africa continent?
Trying to divert EU people problems.
When it's sad that countries need international support, these countries should do smth to receive it, show themselves to world, because we still don't know where some countries even located and othera can be surprised hearing names of some countries
That woman at the IMF don't like Africa.
YES..! YES..! &
AND EMPHATIC NO..!🙏 ❤️
THE IMF & THE WORLD BANK will be working hard, hand in hand to bring the worse ever possible scenarios about AFRICA as they plot to get their hands and Washington hands on UGANDA's recent massive GOLD FORTUNES…!
It is very important for ALL African leaders to work together to ensure that UGANDA's GOLD is used to improve the lives of all Ugandians..!
The spill over from UGANDA's success will eventually reach the 4 corners of this beautiful and wonderous continent that has been ravaged by the West for centuries…!
BEWARE OF WOLVES IN SHEEP'S CLOTHINGS…!!!
Its important that UGANDA should call for an "EMERGENCY MEETING of AFRICAN NATIONs" ONLY .. ie to call on its African brothers & sisters to talk about their good Fortune and find ways to ensure that this gold is meant NOT only to better the lives of the people of Uganda BUT also every single African & their families & communities & country & ALL OTHER ANIMAL SPECIES..!
CHEERIO…! 🙏 ❤️
Why African media house not broadcast the problem in EU, problem in Africa All the time.Never trust these news anymore.
Stop selling lies about African there economy’s are doing alot better then in the west!! 👏🏾👏🏾👏🏾👏🏾
that optimism is on perspective of conducive global situation no?
into critical situation i will like to look up instead down like every socialist
bcoz when the roof fall anything under get buried
even with new administrative that tolerable with russia
with eu regulation n policy italy may fall with uk next year
german n japan will follow after usa in 2024
5 of 7 pillar of world order is sinking
with dragon at stagnant condition none will sustain world economy this time
even defense already astronomical
So what I read throughout the comments is a bunch of privileged people acting like they know why Africa is where it's at today. But if you trace our history, from the formation of the imf and the world bank, both of these organisations were designed in a manner that created these dependencies on my continent so that the west could rebuild itself after the second world war, the policies behind these organisations were never designed to benefit Africa but to facilitate the West's sucking of it's resources and that remains till today. So corruption is everywhere in the world and Africa is not the worst case, the only difference is that the western monetary systems use these corruption claims to restrict aid and make us fight battles they know for sure we cannot win in a day, meanwhile imf and world bank never thinks twice when bailing out western economies, so these corruption allegations are just a tool the west uses to make my people look as uncivilized and as disorganized as possible. I personally, Africa would have been a global super power if the west and it's monetary organizations never set foot on my land. They have defiled my land and robbed it of its will produce for itself. But Africa is strong and whether the world likes it or not, these ceilings the west put on our economies will break and the world will respect Africa. So next time you accuse us of being uncivilized, corrupt or disorganized, remember Africans are fighters, and no matter how many times the west frustrates our efforts, we will keep fighting.
It gets talked about but nothing done about it! South Africa is fast becoming a basket case like Zimbabwe through ridiculous government policies! Just research EWC… Expropriation without compensation!
Has Sub-Sahara Africa ever paid back an IMF loan fully – I doubt it.
The IMF, world bank, USA and Europe are what kept Africa poor/struggle.
Germany via its mouthpiece is whitewashing Europeans crime in Africa.
Has it ever not been in a precarious position?
Exporting raw materials won't improve a nation. It take heavy manufacturing of secondary products.
I'd would rather my tax money go to helping the citizens of Africa than prolonging a proxy war
America and its allies (EU) are stifling African economies because African countries are not giving them access to their natural resources.
Nobody trusts IMF.
IMF and the WORLD BANK are responsible for wiping out decades of growth from African economies through :-
1. Structural Adjustment Programs (SAPs): In the past, the IMF and World Bank implemented structural adjustment programs in African countries as conditions for financial assistance .These programs often required countries to implement austerity measures, such as reducing government spending, liberalizing markets, and privatizing state-owned enterprises. Critics argue that these policies may have led to social hardships, increased inequality, and weakened domestic industries to favour western companies .
2. Economic dependency: Some argue that the IMF and World Bank's focus on stabilizing economies through loans and financial assistance may perpetuate a cycle of economic dependency. By relying on external funding, African countries may struggle to develop self-sustaining economies and become less dependent on external aid.
3. Conditionality and policy prescriptions: The conditions attached to financial assistance from the IMF and World Bank have been criticized for being too rigid and insensitive to local contexts. Critics argue that policy prescriptions may not take into account the unique challenges and needs of African countries, leading to inadequate development strategies.
4. Debt burdens: African countries have faced significant debt burdens, and some argue that the IMF and World Bank's lending practices may contribute to the accumulation of unsustainable debt ( dead aid ) . Concerns have been raised about the impact of debt servicing on national budgets, diverting resources away from social investments and development priorities ( upto 50% in some instances )