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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
Troops rescue three kidnapped victims in Zamfara
By: Zagazola Makama
Troops of the Nigerian Army have rescued three kidnapped victims during a fighting patrol in Tsafe Local Government Area of Zamfara State.
Security sources told Zagazola that the operation was conducted on April 25 at about 9:00 p.m. by troops of 1 Brigade in collaboration with hybrid forces deployed at Kulchin Kalgo.
The sources said the troops advanced to Bilbis area following intelligence on the presence of terrorists and made contact with the armed group.
According to the sources, the troops engaged the criminals in a firefight, forcing them to flee and abandon three kidnapped victims in the process.
The rescued victims were subsequently handed over to the district head of Bilbis for safe custody and further reunification with their families.
The sources added that the troops have continued exploitation of the area to track fleeing suspects, while the general security situation remains under close monitoring.
Troops rescue three kidnapped victims in Zamfara
Troops arrest suspects, rescue kidnap victim in Benue
By: Zagazola Makama
Troops of Operation Whirl Stroke (OPWS) have arrested two suspected kidnappers and rescued a victim in Gwer East Local Government Area of Benue State.
Security sources said that the incident occurred on April 25 at about 10:30 a.m., when troops deployed at Agidi responded to reports of a kidnap incident in Abenga and Mabur communities.
The sources said the troops swiftly mobilised to the area and made contact with the suspected kidnappers, engaging them during the operation.
According to the sources, the troops overpowered the criminals, leading to the arrest of two suspects and the rescue of one kidnapped victim.
The sources added that the apprehended suspects and the rescued victim have been handed over to the Nigeria Police for further investigation and necessary action.
They assured that security forces will continue to intensify operations to curb kidnapping and other criminal activities in the state.
Troops arrest suspects, rescue kidnap victim in Benue
Troops, DSS arrest suspected IPOB/ESN member in Enugu raid
By: Zagazola Makama
Troops of the Nigerian Army, in collaboration with operatives of the Department of State Services (DSS), have arrested a suspected member of the Indigenous People of Biafra (IPOB) and its armed wing, the Eastern Security Network (ESN), during a raid in Enugu State.
Sources said that the operation was carried out on April 25 at about 6:20 p.m. by troops of 82 Division Garrison, 103 Battalion and 197 Special Forces Battalion.
The sources said the joint team conducted the raid at Obinofia Ndiagu village, where one suspected IPOB/ESN operative was apprehended.
According to the sources, three mobile phones were recovered from the suspect during the operation.
They added that the suspect and recovered items are currently in the custody of the 82 Military Intelligence Brigade for further investigation and necessary action.
The sources noted that the operation is part of ongoing efforts by security agencies to dismantle criminal networks and restore peace in the South-East.
Troops, DSS arrest suspected IPOB/ESN member in Enugu raid
Troops rescue three kidnapped victims in Zamfara
Troops foil kidnap attempt, rescue victim in Kaduna
Troops arrest 10 suspects in Benue offensive operation
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