ActionAid to Bretton Woods twins: It’s 50 years of failure
Activists hold placards during a demonstration against poverty and climate change on the first day of the annual meetings of the International Monetary Fund and the World Bank Group in Marrakesh, Morocco on October 9, 2023. PHOTO | AFP
Business and Technology Reporter in Nairobi, Kenya
Nation Media Group
The International Monetary Fund’s policy advice to African countries over the past five decades have been inherently flawed, outdated and have done more harm than good to the continent’s economies, international charity ActionAid says.
The Johannesburg-based NGO says a scrutiny of IMF’s policy recommendations for some 10 African countries, which often accompany financial assistance, shows that the directives are severely hurting economies and deepening economic challenges instead of helping.
