African nations 'clamouring for IMF, WB loans despite having abundant, economically viable natural resources' – PNC on AU Day

African nations are "clamouring to borrow money from the World Bank, the IMF, amongst other sources with conditionalities that are practically unattainable while the continent abounds with unlimited economically viable natural resources capable of funding the continent’s developmental needs," the People's National Convention has decried.
In a statement to mark African Union Day, the Nkrumahist party said: "African leaders' desire for dominance and to wield unquestionabe powers have distorted their thinking to the point where they have betrayed their nations to the West in an effort to cling on to power."
The party's concern comes a few days after the IMF approved US$3 billion and US$3.5 billion for Ghana and Côte d’Ivoire to bail out their economies that got ravaged by the Covid pandemic and the spillovers from the Russia-Ukraine war.
Read the PNC's full statement below:
WISHING AFRICA A HAPPY UNION DAY
President Nkrumah made an inspirational assertion that: “The independence of Ghana is meaningless unless it is linked to the total liberation of the African continent”.
The heroes who fought for the independence of Africa will never forgive us if we continue to allow selfishness to prevent us from coming together as a continent.
African nations are clamouring to borrow money from the World Bank, the IMF, amongst other sources with conditionalities that are practically unattainable while the continent abounds with unlimited economically viable natural resources capable of funding the continent’s developmental needs.
African leaders' desire for dominance and to wield unquestionabe powers have distorted their thinking to the point where they have betrayed their nations to the West in an effort to cling on to power.
This lack of patriotism has plagued Africa and created several economic difficulties for all African nations.
The PNC is using this day to call on Africans, especially the leadership of the African Union, to set the tone for uniting the continent now. Accelerating the political and socio-economic integration of the continent to promote and defend Africa’s common position on issues of interest to the continent and its people must
be done now.
The African Union should strengthen the capacity and the capability of the African Development Bank to meet the financial demands of the continent so as to avoid resorting to the Bretton Wood institutions for ‘killer’ loans.
We are worried that phone call charges amongst African States are too expensive.
The charges are far expensive than charges on calling outside the continent. This anomaly must be corrected as its adverse effect on trade is dire.
Africa Must Unite.
PNC: Service with Honesty
Signed Janet Nabla
Source: classfmonline.com
Trending News
Alan to market queens: I’m grateful; join me to dream, hope and create a prosperous nation for all
07:45What has Bawumia’s paperless port brought to revenue mobilisation – Nukpenu
09:09Ghanaians deserve to be assured COVID-19 wasn’t used as a cover for corrupt practices – Akufo-Addo
08:15Akufo-Addo receives highest Int'l Diplomacy Award
09:28'Tell SC they don't know the law, too, like you told me’ – Domelevo to presidency on 'unconstitutional' ouster
06:47C/R: 16 crushed to death in Gomoa Okyereko road crash between Yutong bus and fuel tanker
09:07Let’s come together and expunge E-levy and Covid-19 levy – Ablakwa to MPs
07:54Assin North: We’re sure of victory – Ahiagbah
09:26PURC says 18.36% electricity tariff hike to make up for inflation, FX rate, gas price hike
06:43Otumfuo destools Antoa Chief
08:35