Life or Debt? How the IMF Keeps Africa Down

Instead of helping promote development, the International Monetary Fund (IMF) traps countries in cycles of debt and instability. Grieve Chelwa, Director of Research, Institute on Race, Power & Political Economy at The New School, explains how countries of the Global South are forced to go to the IMF for aid over and over again.

#BreakThroughNews

[Asrahn]

"Most countries are rich - only the people are poor. . . These countries are not underdeveloped, they are overexploited."
- Michael Parenti

[CommieApe]

Sankara's policies of refusing IMF interference was for the sole purpose of maintaining the revolution. They knew if they accepted colonial or imperial funding they were compromised.

[zhongguojiayou]

I've kind of been saying this exact same thing for years.
Its only now that people are starting to wise up to it. IMF, is the main culprit as to why so many countries are in debt, I mean look what the IMF did to Greece 🇬🇷.

[farahmo]

Its funny how poorer people are the ones burdened with higher rates of interest on loans

[jazariareid]

When Africans going to start its own financial system? African leaders are hurting African 🇯🇲

[forktongue]

Bingu Wa Mutharika spoke about the West 13 years ago and African leaders should have paid heed .The West said he must not give his farmers subsidies but they are giving theirs.

[ClipCoyote]

You guys need to make infographic mini docs about these topics summed up in under 3 mins explaining the process, then link back to these interviews. It will be HUGE

[flamani]

It is a Frenchman that is always appointed to head the IMF per the agreements the Westen countries have. I believe everyone who is concerned about Africa now knows how France keeps exploiting Africa to this day. So the IMF is just an additional tool at France's disposal to pursue its vengeance and bring down for good Africa as a whole not just the countries it used to dominate. And France at this position at the IMF is working on behalf of the other Western countries. The World Bank always controlled by America is pursuing the same devastating endeavor on behalf of the same Western countries. I think we just need to see things as they are not as the West tells us there are.

[kbmblizz]

😂 You need to put jingoistic title like, "Colonial IMF traps poor African countries with debt bomb!" But then that would be the truth for last 200 yrs.

[anthonykerr]

....I'm from America, our gov. doesn't spend money on the that is what humanity is dealing with class stratification. Money itself is debt....period. It literally is enslavement, as the loans can never be paid back. further more Ireland never gets brought up with slavery, and all of Africa compared to just Ireland makes quite the case of how everyone was and is enslaved. We need the Zeitgeist Movement.

[jamesmurphy]

Austerity is also in Europe
Especially in Greece Italy Spain and the UK
Privatization is the economic Crusade
Ukraine is a prime example so was the reasons of the Yugoslavia Wars
Eastern Europe has be depopulated

[grandwonder]

IMF has been setting up countries into debt traps for 3/4 of a century and it is still doing it! In fact, most countries have never gotten out of the IMF debt traps even though the money that they borrowed from the IMF was from 75 years ago! The interests that they have paid to the IMF could be 50 times greater than the original loan that they have taken out on, but the US still makes them pay their IMF debts regardless of how much money it has already sucked out of those countries!

[JandRMediaLimited]

Raising domestic capital and pay investors as pay as you go returns. For example have a strong contract that guarantees returns. Build road and toll it

[juhanleemet]

The big problem is borrowing money in foreign currencies, e.g. US$. The countries should try to build infrastructure (e.g. roads) using national currency "created" by national banks, in the same way commercial banks in the west create money (out of thin air!). Then locally created money can pay for local labour and local companies.
Remember, the Romans did not need to borrow US$ to build their roads and bridges, and those have lasted for 1000s of years! Self-reliance in preference to foreign dependence.

[TrendTornado]

The IMF International monetary fund gives loans to third world countries and issues conditions like devaluation of currency, increase of taxes, lowering wages, and other general re-structuring of the economy. This is what Nigeria went through in 1986(I was 19 then) called the SFEM with IMF. This SFEM in Nigeria devalued the currency overnight from $1 to 3 Naira to $1 to 50 Naira in one week and we thought it was bad then but now it is $1 to 780 Naira.

[terrystraker]

All praise to Almighty God; the lack of a true sense of unity among the African people is fundamentally key to propelling this magnificent continent forward we must have unity. All praise to Almighty God amen.

[heralds]

Relationship with Amurica will bring a country a military base

[الماليةالعامةوالضرائب]

لكي تشاهد هذا الفيديو المرفق وهم يتحدثون عن كيف ان الدول الافريقية قد وقعت في فخ الديون عن طريق صندوق النقد الدولي من حيث استلام قرض وبعد فترة يطالبون بقرض اخر وبعد فترة ثالثة يطالبون بقرض ثالث.
وهكذا تدور الرحى ولا يبدو ان هناك مخرج من فخ الديون وتضيع موارد الدولة او موارد الدول الافريقية في سداد فوائد الديون واصل الدين.
من دون بارقه امل في اخر النفق او ضوء في اخر النفق يقول ان هذه الدول الافريقية يمكن ان تخرج من هذا الفخ الجهنمي.

[wayando]

Usury ... We need to rethink the financial systems.

[sportreviewhd]

And it will continue to do so, this is just the beginning