Our Managing Editor comments on IMF support for Ghana on Radio Netherlands
The Managing Online Editor of ghanabusinessnews.com, Emmanuel K. Dogbevi was on Radio Netherlands Friday July 31, 2009. He made comments on the IMF’s recently announced support to developing countries including Ghana.
Mr. Dogbevi was interviewed by Bette Dam of Radio Netherlands on what the support from the International Monetary Fund (IMF) means for Ghana in the face of the global economic crisis, following an article he wrote on the matter.
Making his views known, he told the international radio station that while it is encouraging to see Ghana attract such favourable support from the international lending institution, it is not how much the country gets that would change much but how the money is used.
He said over 50 years of international development assistance to developing countries, particularly in Africa has not done much to change the economic situation on the continent because of corruption, nepotism and ineptitude of African leaders, this support from the IMF would not bring any effective change in the life of the millions of Africans who are falling deeper into poverty if there is no responsible leadership.
Mr. Dogbevi also criticised the ‘one size fits all’ approach of the IMF and called for flexibility in the Fund’s approach to allow countries to design programmes peculiar to and specific to their circumstances and needs.
See the story on Radio Netherlands’ website.
Mr Dogbevi criticisim amd remarks was right on the money and again is not far from President Obama message at Accra. Frankly speaking IMF doesn’t care whether the nation leaders are corrupt or the country leaders neglecting poverty among the entire population.
irony is that African leaders don’t get it. Look at South Africa, When the minority white rule were using the nations natural resources to develop the cities, the very labours were less educated blacks who didn’t have even the basic drinking water, toilet, education in the township. The end result is crime when freedom came. South Africa knows one day when all these minerals that are not renewable is finish, is their industries and education as well as skill labour force that will carry them through the next level of development.
Kudos to Mr. Dogbevi. You’ve hit the nail on the right head.