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The International Monetary Fund (IMF) plays a significant role in the economic landscape of Africa, especially concerning the continent’s development and underdevelopment. Here are some key points detailing the true rule of the IMF in Africa’s underdevelopment: 1. Financial Assistance and Conditionality Loans and Programs: The IMF provides financial assistance to African countries facing balance of payments crises. These loans often come with conditions that require countries to implement specific economic reforms. Structural Adjustment Programs (SAPs): In the past, the IMF implemented SAPs that required countries to adopt austerity measures, privatization, and deregulation. While aimed at stabilizing economies, these measures often led to social unrest and increased poverty. 2.Economic Policy Influence Policy Formulation: The IMF influences economic policy in African nations through its financial programs. This influence can lead to the prioritization of fiscal austerity over social spending, impacting health, education, and welfare services. Focus on Macroeconomic Stability: The IMF emphasizes macroeconomic stability, which can sometimes overlook the need for sustainable development and inclusive growth, contributing to ongoing underdevelopment. 3. Debt Dependency Debt Accumulation: Many African countries have become heavily indebted due to borrowing from the IMF and other financial institutions. This debt can hinder development as a significant portion of national budgets goes toward servicing debt rather than investing in infrastructure and social services. Cycle of Dependency:The reliance on IMF loans can create a cycle of dependency, where countries are continually in need of financial assistance, limiting their ability to pursue independent development strategies. 4.Social and Economic Impact Impact on Poverty: Austerity measures and cuts in public spending can exacerbate poverty and inequality, particularly affecting the most vulnerable populations. This can lead to increased unemployment and social instability. Health and Education: Reduced funding for health and education as a result of IMF-imposed policies can hinder human capital development, which is crucial for long-term economic growth. 5.Criticism and Controversy Critics’ Views: Many critics argue that the IMF’s policies have not only failed to foster sustainable development in Africa but have often worsened economic conditions. Critics advocate for approaches that prioritize local needs and social development over strict economic metrics. Calls for Reform: There are calls for reforming the IMF’s approach in Africa to be more inclusive and consider the unique socio-economic contexts of African nations. 6. Recent Developments Changing Strategies: In recent years, the IMF has acknowledged some of the criticisms and has started to adopt more flexible approaches, focusing on inclusive growth and poverty reduction. However, the effectiveness of these measures remains a topic of debate. In finalization The IMF’s role in Africa’s underdevelopment is multifaceted, involving financial assistance, economic policy influence, and social implications. While the IMF aims to stabilize economies and promote growth, its methods and the conditions attached to its assistance have often led to adverse effects on development. The challenge remains to balance necessary economic reforms with the need for sustainable and inclusive development that addresses the root causes of underdevelopment in Africa. what do you think about IMF contribution to africa’s underdevelopment ? Credit:JTT

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Captain Ibrahim Traoré of Burkina Faso has successfully navigated a coup attempt, reaffirming his commitment to national sovereignty. In response to U.S. allegations of gold reserve mismanagement, he has strengthened ties with Russia, issuing Nordgold a mining license. This strategic move challenges Western dominance over Burkina Faso’s resources, ensuring the nation retains a vested interest in its wealth. Traoré is dedicated to establishing Burkina Faso’s military and economic independence, repudiating reliance on Western powers. His leadership has inspired hope across Africa, catalyzing a push for authentic self-reliance and liberation from foreign influence. Russia has demonstrated its reliability as a business partner, whereas others have exploited Africa for selfish interests. What notable achievements has Nigeria made since gaining independence? Is the country’s progress being hindered by the United States, which allegedly influences the selection of its presidents and ensures their incompetence? If Nigeria unites, can it overcome these challenges? Join the movement on Jaconna by creating an account.

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Abuja FCT/Billionaire/Biography/Dangote/Entertainment/Film/JTT/Kanayo o kanayo/movie production/music production/Nigeria/Nollywood/Opaluwah/Peterobi/Queenjajio/Recordlabel/Ritualist/Samson Opaluwah/Uk/Usa/verydarkblackman

BRIEF BIOGRAPHY OF PEOPLE WHO IMPACTED OUR SOCIETY POSITIVELY ON THEIR FIELD OF WORKS EPISODE ( 103)(Kanayo o Kanayo) ( Nigeria) Kanayo O. Kanayo, born Anayo Modestus Onyekonwu on March 1, 1962, is a renowned Nigerian actor, producer, and director, celebrated for his contributions to the Nigerian film industry, particularly in Nollywood. Kanayo O. Kanayo hails from Aboh Mbaise in Imo State, Nigeria. He studied at the University of Lagos, where he earned a degree in Philosophy. His acting career began in the early 1990s, and he quickly gained recognition for his versatile performances in a variety of genres, including drama, thriller, and comedy. He became a household name with his roles in films that often addressed social issues, cultural themes, and moral dilemmas. Notably, Kanayo is famous for portraying characters that revolve around traditional African beliefs, making him a beloved figure in Nigerian cinema. His compelling performances in hit movies such as “Living in Bondage,” “Blood Money,” and ” riffs the narrative of wealth, power, and morality in contemporary African society.” In addition to acting, Kanayo O. Kanayo has ventured into film production and direction. He founded his own production company, which has further enhanced his influence in the industry. He is also known for his philanthropic work, supporting various charitable causes, particularly those focused on education and youth empowerment. Kanayo O. Kanayo has received numerous awards throughout his career, including the Africa Movie Academy Awards (AMAA) and has been recognized for his contributions to the Nigerian film industry, often serving as a mentor to young actors and filmmakers. His impact on Nollywood continues to be significant, and he remains one of the most respected and influential figures in the Nigerian entertainment landscape. Beyond his professional accomplishments, Kanayo is also known for his engaging personality and active presence on social media, where he connects with fans and shares insights into his life and career. Kanayo O. Kanayo continues to be active in the film industry, participating in various projects that reflect his love for storytelling and his commitment to the growth of Nollywood. Kanayo social links: https://youtube.com/@kanayookanayotv?si=wgyw15gD4nUd-qgg https://www.facebook.com/share/18bXdeGTHv/ https://www.instagram.com/kanayo.o.kanayo?igsh=MWpvbW81OGNhZHFlMg== To be updated soon

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