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ActionAid Describes 2024 IMF/World Bank Meeting, A Damp Squib, Falling Short of Addressing Issuing for People Living in Poverty
ActionAid Describes 2024 IMF/World Bank Meeting, A Damp Squib, Falling Short of Addressing Issuing for People Living in Poverty
By: Michael Mike
ActionAid has said the 2024 International Monetary Fund (IMF) and World Bank Annual meetings in Washington, D.C., were a damp squib that fell short of addressing the bread-and-butter issues for people living in poverty.
The IMF’s forecasts of high debt and slow growth, especially among Global South countries, and its recommendations for even more fiscal adjustments, public sector wage rationalization,and the social acceptability of structural reform are testament to their continued failure and inability to show relevance for the global majority in the 21st century.
The Global Economic Justice Lead at ActionAid International, Roos Saalbrink, said: “We see once again how the IMF is not fit for purpose and unable to offer real solutions to the economic crises they helped to create. The decision to stick to old ways and pursue harmful policies, such as public sector wage cuts, is a blatant disregard for decades of evidence that has shown that this does not work and for rapidly growing inequality.”
He added that: “The IMF seems unable to see reality outside its econometric models. Sadly, the lack of meaningful action to arrest the debt crisis and put an end to austerity could spell doom for the global majority, whose voices demanding a break from the failures of the past are yet again ignored.”
On her part, the Policy Specialist at ActionAid UK, Jessica Mandanda, said:
“It has been 80 years, and we find ourselves, yet again, at odds with the International Financial Institutions, with consistent contradictions in what they say and what they do. What is crystal clear is that the IMF is completely out of touch and disconnected from the lived realities of billions across the world who are suffering because of austerity and bad policy advice.
“The calls for austerity, or fiscal adjustments or restrictions as the IMF is calling it, will increase the burden among vulnerable communities, especially women, who bear the brunt of cuts in spending on essential services such as health, education, and other support sectors.
“In so many ways, we have seen even more this past week that the IMF is willing to let people especially women be collateral in the pursuit of economic growth. After 80 years, we expected the IMF to take responsibility for their failed policies and be open to changing their ways of operating. Their decision to stick to business as usual will doubtlessly reverberate negatively on vulnerable and poor communities, in the Global South.”
ActionAid noted that metrics like Gross Domestic Product growth hide the real impacts of economic policies, as well as in whose interests this endless growth is pursued. It is a continuation of a colonial system enabling the extraction of wealth and resources into the hands of a few, fueling extreme inequality. The increased climate crisis stems from this unquestioned pursuit of GDP growth that is driving extractivism and has pushed the planet beyond its limits.
The Women’s Rights Programme and Policy Advisor for ActionAid International, Lina Moraa, said: “While the IMF preaches ‘reform’ it is clear that they have failed to deliver on this for the past 80 years. The fund is still deeply entrenched in neoliberalism and happy to perpetuate a system that fuels inequality and suffering. We demand a radical departure from this failed model and a new era of economic justice for all.”
She noted that the time is up for outdated economic policies, systems, and rules, that disproportionately impact women and girls. As part of international financial architecture reform, governments must take debt negotiations and sustainability assessments away from the IMF to a new UN democratic and representative debt workout mechanism to function at the Fourth UN Financing for Development conference in 2025 hand in hand with a UN Convention on International Tax Cooperation.
ActionAid insisted that there is an urgent need for a collective resolution to the global debt crisis anchored on debt cancellation, radical debt renegotiation, reparations, and bold action for progressive, gender-responsive, and climate-sensitive tax reforms to allow governments to invest in quality public services.
Global Lead on Economic Justice and Public Services at ActionAid International, Roos Saalbrink said: “The blatant unwillingness of global north governments to change the current governance structure of the IMF and World Bank is striking. The IMF itself also seems adamant to keep the system as it is, holding itself at the center of economic decisions continuing the endless cycles of debt, reforms, and cuts in government spending. Debt cancellation simply is not in the IMFs interest, it might put it out of business. So, we should see its outdated recommendations for what they are; a deliberate attempt to maintain its relevance and power.”
ActionAid Describes 2024 IMF/World Bank Meeting, A Damp Squib, Falling Short of Addressing Issuing for People Living in Poverty
News
NAF Airstrikes killed Scores of Bandits, as troops recover large numbers of rustled cows in Zamfara
NAF Airstrikes killed Scores of Bandits, as troops recover large numbers of rustled cows in Zamfara
By: Zagazola Makama
The Nigerian Air Force (NAF) troops of Operation FANSAN YANMA have successfully neutralized scores of bandits in Tsafe Local Government Area (LGA) of Zamfara State, Zagazola report.
Intelligence sources told Zagazola Makama that the successful operation was as a result of a coordinated intelligence which revealed that a large number of bandits suspected to be relatives of notorious bandit leader Ado Aleiro, along with other unidentified individuals, left Zamfara State/Tsafe LGA to rustle cattle from nearby communities.
The sources said that the bandits succeeded in stealing several livestock and were attempting to escape when they encountered resistance from local the security forces.
The troops tracked the rustlers and waited until they reached a mountainous area before surrounding them. Upon confirming their location, they alerted the Nigerian Air Force, which swiftly deployed air assets to engage the fleeing bandits.
Eyewitnesses confirmed that several bandits were eliminated in the operation, though he said that the exact number is yet to be determined. The second sources said that at least 23 bandits were killed as well as several others injured
The sources said that the troops also recovered a large number of rustled cattle.
This operation is part of ongoing efforts by the military to dismantle terrorist strongholds and curb cattle rustling, a key source of funding for bandit groups operating in Zamfara and neighboring states.
NAF Airstrikes killed Scores of Bandits, as troops recover large numbers of rustled cows in Zamfara
FG unveils 39 inmate transport vehicles, armoured booths for prison security
By: Our Reporter
Olubunmi Tunji-Ojo, the minister of interior, has inaugurated 39 mini-green Maria vehicles to ensure the safe transportation of inmates to courts during trials.
In a statement on X, the ministry said the commissioning took place at the headquarters of the Nigerian Correctional Service (NCoS).
The minister also unveiled four armoured security guard booths to protect correctional facilities from external aggression by non-state actors.
“The Hon. Minister of Interior, Dr. Olubunmi Tunji-Ojo, today inaugurated four armored security guard booths at the Nigerian Correctional Service headquarters to enhance the defense of correctional facilities against external threats,” the statement reads.
“He also unveiled 39 mini-green Maria vehicles designed to ensure the secure transportation of inmates to court during trials. These efforts reflect President Bola Ahmed Tinubu’s dedication to the safety and welfare of officers and inmates.
FG unveils 39 inmate transport vehicles, armoured booths for prison security
Damaturu Flyover: The Making of A Befitting State Capital
By: Mamman Mohammed
Since the news about the signing of the Damaturu fly over contract filtered the air, it attracted accolades in many quarters and of course, reservations in some quarters. This is very normal and usual with every human endeavour.
It is pertinent to note that His Excellency the Executive Governor of Yobe State, Hon. Mai Mala Buni CON, COMN, while presenting the 2025 budget to the state House of Assembly, emphatically said “The widespread of road projects is intended to give a facelift and accessibility to our communities. Government is committed to the completion of the seventeen ongoing road projects, and to embark on eleven new ones. The completion of the township roads and drainages in five Local Government Areas is very dear to the government. I am also pleased to inform you that work would soon commence for the construction of the Damaturu flyover. We would also commence work on the Damaturu Green Economic City”.
Similarly, the budget allocated funds to other sectors to run simultaneously to improve the lives of the people without obstructing the execution of other projects and programmes in other sectors.
Importantly, the budget went through open process of careful and critical scrutiny, with Civil Society Organizations, individuals and groups in attendance.
Throughout the public sitting, none of the interest groups and individuals identified any project including the Damaturu flyover road as a misplacement of priority that would be at the expense of another, and as they may say, it is robbing Peter to pay Paul.
There is no doubt that the Damaturu flyover project will not only check the numerous congestion and accidents in the metropolis but, also beautify Damaturu, from a glorified local government headquarters to a beffiting state capital that is comparable to its peers, and a pride of every Yobean.
This takes us to the Muhammadu Buhari lnternational Cargo Airport as a reference point. When Gov. Buni took over the leadership of the state in 2019, there was an argument for and against the completion of the airport.
Many people described it as a wasteful project while others urged the new administration to ensure its completion. And when Gov. Buni finally announced the completion of the airport which was still at skeletal stage, it put such arguments to halt.
Gov. Buni’s argument was that, abandoning the project at that level would be a monumental loss to the state that would only attract untold inflation whenever any administration decides to complete the airport. Thanks to the wise decision, and the deep futuristic thinking by Governor Buni.
Today, the argument over the completion of the airport is now history. It is
completed and commissioned. It remains
one of the iconic legacy projects, with a very prosperous future to the state.
Already, some international investors have indicated interest in direct and indirect investments in the state. The Qatari business community and most recently, the Moroccan Investment, lmport and Export Development Agency, said the airport is a window to a fruitful economic partnership that would generate employment and wealth creation.
The same criticisms greeted the Kano, Maiduguri, Yola, Kaduna and Jalingo flyovers.
Surprisingly, some characters who lauded the flyovers elsewhere have suddenly changed their positions with the Damaturu flyover.
As a known fact, there may be no single government project or programme that would generate100% support from the public, as everyone may have his opinion for or against such project.
We should always see such projects positively and support government in its development strides to make Damaturu a state capital that is in tune with the changing times.
Damaturu Flyover: The Making of A Befitting State Capital
Senator Kaka Shehu: When Lawyers in Borno Honor Their Own
NAF Airstrikes killed Scores of Bandits, as troops recover large numbers of rustled cows in Zamfara
FG unveils 39 inmate transport vehicles, armoured booths for prison security
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