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IMF, World Bank Must End Colonial Rule, Says ActionAid
IMF, World Bank Must End Colonial Rule, Says ActionAid
By: Michael Mike
ActionAid has said the time is up for the International Monetary Fund (IMF) and the World Bank to stop perpetuating a colonial rule on the world.
The call was made at the weekend as the two global financial institutions conclude their Spring meetings in Washington DC this week.
ActionAid, in the statement said for the last 80 years the IMF and World Bank have been in existence, not much has changed as global South countries have been pushed further into debt and are reeling from the impacts of IMF-imposed austerity measures.
In its 2023 report Fifty Years of Failure, ActionAid found that despite following the IMF’s advice for decades, many African countries are in debt distress or facing a high risk of debt distress. Austerity measures have blocked the recruitment of teachers, doctors and nurses, even in countries with severe shortages, and has squeezed public sector salaries at a time of a rising cost of living.
Global Lead on Economic Justice and Public Services at ActionAid International, Roos Saalbrink, said:“Countries in the global South have since the structural adjustment progammes been in perpetual austerity, eroding public health and education. At a time of unprecedented climate crisis and debt crisis in the global South, the Bretton Woods Institutions continue to oil the wheels of colonial exploitation and extraction. At the same time global South governments have very little say in the policies coming from these institutions at the centre of the international financial architecture. 80 years is enough.”
The statement said ActionAid is also concerned about a ‘gentleman’s agreement’ which has ensured that the IMF managing director has for 80 years been European and the World Bank president a US national.
Country Director of ActionAid USA, Niranjali Amerasinghe, said: “Kristalina Georgieva’s appointment is a continuation of the colonial era ‘gentleman’s agreement’, where rich western powers have the most say. It is unacceptable that 80 years later we are still having to call this out. The IMF must change its leadership selection process, its decision-making model, and the harmful practices that keep developing countries in a cycle of crisis.
“As the climate crisis wreaks havoc, global South countries are so deep in debt that they cannot adapt to these impacts. We are calling for debt cancellation and tax justice to help these countries free up the finances needed to build resilience to climate impacts.
“We need to see an overhaul of the international financial architecture with a proper debt workout mechanism, a UN tax convention, to ensure global South governments have a say over policies impacting them disproportionately.”
ActionAid is a global federation working with more than 41 million people living in more than 71 of the world’s poorest countries, the organisation wants to see a just, fair, and sustainable world, in which everybody enjoys the right to a life of dignity, and freedom from poverty and oppression. We work to achieve social justice and gender equality and to eradicate poverty.
IMF, World Bank Must End Colonial Rule, Says ActionAid
Security forces foil kidnapping attempt at Government Girls’ College in Bauchi
By: Zagazola Makama
Security forces have foiled an attempted kidnapping at Government Girls’ College in Bauchi, Bauchi State, in the early hours of Saturday, sources said.
The incident reportedly occurred at about 4:42 a.m. on March 15 when unidentified persons attempted to gain entry into the school premises through the fence near the staff quarters.
Security personnel on guard duty, supported by a patrol team, responded swiftly to the situation. On sighting the approaching officers, the suspected kidnappers abandoned their mission and fled the area.
The development caused brief panic within the school as students raised alarm and ran within the premises. However, no student was harmed or molested during the incident.
Police said the situation has been brought under control, while the school premises remain under close surveillance. Investigations are ongoing to identify and apprehend the suspects.
Security forces foil kidnapping attempt at Government Girls’ College in Bauchi
Man rescued by security forced after abduction in Fika, suspects flee
By: Zagazola Makama
A 35-year-old man, Haruna Abdul, was rescued unhurt after being abducted from his residence in Fali Village, Gashinge, Fika Local Government Area of Yobe State, security sources confirmed on Monday.
The incident, which occurred on March 14, involved unknown assailants armed with bows, arrows, and matches, who reportedly invaded Abdul’s home and forcibly abducted him.
During the attempted transport of the victim to an undisclosed location, police and vigilante groups promptly pursued the kidnappers to Gubana in Fune LGA, Yobe State.
The kidnappers reportedly abandoned Abdul along with a seized motorcycle, described as kasere red in color without registration number, before fleeing into the bush.
The victim has since been reunited with his family, while authorities continue efforts to apprehend the fleeing suspects for prosecution.
Man rescued by security forced after abduction in Fika, suspects flee
Stray bullet injures man in Tsafe following dispute involving military personnel
By: Zagazola Makama
A 38-year-old man sustained gunshot injuries in Tsafe Township, Tsafe Local Government Area of Zamfara State, after a misunderstanding involving a military personnel attached to Operation FANSAN YANMA.
Sources said the incident occurred at about 8:45 p.m. on March 14 in the Sahara area when the military personnel, who was in possession of a serviceable rifle, attempted to apprehend one of several youths from Sabon Fegi area.
According to sources , the youths resisted and overpowered the soldier, who reportedly fired his rifle to escape. A stray bullet hit a passerby, identified as Abdulrazak Abdullahi Kayode, in the stomach.
The injured man was initially taken to General Hospital Tsafe before being referred to Federal Medical Centre, Gusau, for further treatment.
Sources said the situation has been brought under control, and investigations into the incident are ongoing.
Residents have been urged to remain calm while authorities look into the circumstances surrounding the incident.
Stray bullet injures man in Tsafe following dispute involving military personnel
Security forces foil kidnapping attempt at Government Girls’ College in Bauchi
Man rescued by security forced after abduction in Fika, suspects flee
One killed as customs officers allegedly shoot driver in Osogbo
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