- Says, “Their Policies “ll Crush Africa’s Future!”
By Abiola Olawale
In a fiery call to what he called pragmatic action, prominent Malawian economist, Mavuto Bamusi has ignited a fierce debate by urging the complete abolition of the International Monetary Fund (IMF) and World Bank’s policies in Africa.
This is as Bamusi branded the policies of the World Bank and the IMF as “economic shackles” that suffocate the growth of African countries.
Speaking at the African International People’s Tribunal in Lilongwe, Bamusi cited several policy frameworks—such as privatization and structural adjustment programs—as having contributed little to the continent’s development.
Bamusi called on African presidents to unite and demand that the IMF and World Bank should “pack and go” away from Africa.
He also accused the institutions of corruption and hypocrisy. He asserted: “If you think there is no corruption in the World Bank, that is a lie.
“We need to agree to abolish the World Bank, abolish the International Monetary Fund.
“With courage, we can abolish and do away with the IMF and the World Bank.”
