As the World Bank and the International Monetary Fund (IMF) hold their Spring meetings in Washington, DC, billions of dollars due to African nations are illicitly leaving the continent. Africans Rising for Justice, Peace and Dignity, an emerging pan-African citizens’ movement, condemns the World Bank’s and IMF’s lack of action on and complicity in illicit financial flows from Africa and calls on them, as well as African governments and regional bodies, to act to #StopTheBleeding of African wealth now. According to the Economic Commission for Africa, illicit financial flows from…Read More
By: Dr. David Himbara Managing Directors of IMF are supposed to be dull and boring economists obsessed with balancing countries’ books. Not Christine Lagarde. A former finance minister in France, she is a clever political operator. She proved this in her visit to Rwanda, the high mark of which was her speech in Rwandan parliament on January 27, 2015. Her strategy was simple – first flatter the Rwandan rulers and then hit them hard with gospel truth. Take this early praise in her speech: “Today Rwanda can take pride in…Read More
Malawi as a nation is wallowing in economic dire-straits and is in a crisis situation that needs ingenious and judicious policy reform to avail itself.
The IMF and the international community of western donors have injected their infamous so called recovery ‘bitter pills’ but the million dollar question that crops to mind when we reflect upon our situation remains whether such structural adjustment proposal bring us any glimmer of hope to economic recovery not only in the short term but even in the medium and long run.
When we project into the future do we see our nation prospering once more in economic terms or are we forever trapped in a vicious cycle of causation and poverty. Developmentally are we really forging ahead or rather backtracking and retrogressing? Where actually do we forecast our economic growth within the next 10 or 20 years? What policy direction in developmental terms do we really need to realize our breakthrough to sustainable growth and economic self-reliance? When we sit back and reflect do we see the IMF structural programmes translating into sustainable economic development and tangible progress?Read More
Lilongwe 2014-01-27_ Former Malawi Justice Minister Raphael Kasambara and Principal Secretary in the Office of the President and Cabinet Joster Njanji have been arrested following on-going investigations into how millions of dollars were allegedly looted in government in dubious deals.
“We have today, the 27th of October 2014, arrested Mr. Raphael Kasambara on money laundering offences,” said police spokesperson Rhoda Manjolo.Read More
By: Jennifer Fierberg Holding too much information and working closely with the government in Rwanda can be a lethal combination. This was evidenced again on Monday when the body of Theogene Turatsinze was found after having been missing since Friday night in Mozambique. Sources held report that he had been abducted by unknown assailants and was never seen alive again. The cause of his death has been unofficially declared as drowning but the official cause of death is still being investigated. His hands were found bound behind his back and…Read More