HOW THE IMF KEEPS AFRICANS POOR

Financial-rights activist Alex Gladstein dissects the IMF's African operations in this video. Drawing on the case of Zaire (now the Democratic Republic of Congo), he reveals a pattern of the institution appointing its own officials to oversee African treasuries, fostering export-led economies, devaluing local currencies and striking deals with dictators.

In Kenya, protests erupted in June 2024 against an IMF-backed finance bill, with demonstrators accusing the government of jeopardising the nation's future by succumbing to the organisation's neocolonialist tactics. Currently, Kenya is in talks with the IMF to establish a new lending programme, following a $606 million loan granted in October 2024, further diminishing public confidence.

Instead of pursuing comprehensive solutions to Africa's escalating debt crisis or considering viable alternatives, such as progressive tax reforms, the IMF continues to implement policies that weaken the economies of African nations.

One way it does this is by granting them loans - but only on condition they privatise their economies and allow Western corporations almost free access to their raw materials and markets, the perfect way to lock African nations into poverty.