We have seen countries on the continent of Africa who took whatever advice the IMF and the World Bank gave them. Today, most of those countries are struggling to see how they can get out of the trap that the IMF and the World Bank pushed them into. When they borrow money to run the economies of their various countries, the interest rate is too high for them to pay, compared to other countries in the world. The IMF and the World Bank give conditions that are completely not conducive for them to handle. Look at Nigeria, for example. The leadership of the country took whatever advice the IMF and the World Bank gave them, and today the country is completely messed up. Hence, we are appealing to the World Bank and the IMF to leave Nigeria and other third world countries to manage the affairs of their various countries on their own. Again, the IMF and the World Bank should stop lending money to third-world countries because this borrowed money is not reaching the poor people of the country; instead, it is being shared among the leaders of those countries, which is so sad.
Source: Viewers Corner News