Tag Archives: IMF

IMF to Approve $3 Billion Loan for Ethiopia

The IMF has reached a staff-level agreement with Ethiopia on a three-year program to support the country's Homegrown Economic Reform Program.
The IMF has reached a staff-level agreement with Ethiopia on a three-year program to support the country’s Homegrown Economic Reform Program.

BY FINANCIAL TIMES

The IMF is poised to approve a loan of almost $3bn for Ethiopia as part of a program to provide balance of payments support for the cash-strapped economy as well as technical assistance for the government’s liberalization agenda. Continue reading IMF to Approve $3 Billion Loan for Ethiopia

IMF Chief to Visit Ethiopia as Hard Currency Crunch Harming Economy

IMF to the Rescue…. as acute shortage of foreign currency, dwindling export trade and foreign investments are having a crippling effect on the country’s economy.

BY ENGIDU WOLDE | ESAT NEWS

Shortage of foreign currency, dwindling export trade and foreign investment are having a crippling effect on the country’s economy at a time when IMF’s director is expected to pay a working visit to Ethiopia.

According to a well-placed source, the foreign currency reserve in the coffers is only about 700 million dollars that could only run for three weeks. Continue reading IMF Chief to Visit Ethiopia as Hard Currency Crunch Harming Economy

How the World Bank and the IMF Destroy Africa

Debt is an efficient tool for IMF and World Bank sharks. It ensures access to other peoples’ raw materials and infrastructure on the cheapest possible terms. Through their ideology of neoliberalism, they immediately start to impose economic restructuring and Structural Adjustment Policies (SAPs) that forces countries to spend less on things like health, education and development to ensure DEBT REPAYMENT. In effect, other development priorities will be shelved and poverty start to creep into the nations.

By Africa W,

THE World Bank and the International Monetary Fund (IMF) were set up during the end of the World War II to rebuild the economies of Europe. However, in order for the world bank and the IMF to implement their policies, they began offering loans to poor countries but only if the poor countries privatized their economies and allowed western corporations an almost free access to their raw materials and markets. That was a poverty trap and many poor countries realized it when it was too late. We were already in chains. Continue reading How the World Bank and the IMF Destroy Africa

Ethiopia’s 50% Unemployment Pushes Youth to Extremes

Poverty and unemployment drives Ethiopian youth to the unknown

By TesfaNews,

Recently we have been witnessing two self-contradictory statements that describe Ethiopia’s economic growth. One calls Ethiopia as one of the world’s fastest growing economies and the other as a country with more than half of its young workers out of a job.

Both statements cannot be true at the same time as it obviously defies both principles of economics as well as common sense.

According to a report by Al Jazeera’s Catherine Soi, it’s not that difficult to tell which statement is pretentious.  Continue reading Ethiopia’s 50% Unemployment Pushes Youth to Extremes

Another Kenyan Stolen Election

Will the election of an ICC indicted Kenyan president defines President Barack Obama in Africa or will President Barack Obama use the election of Kenyatta to define his human rights policy in Africa?

Kenyan president – Indicted by ICC for crimes against humanity

By Thomas C Mountain,

That the fix was in was confirmed when the Godfather himself, son of a Kenyan, Barack Obama, called Uhuru Kenyatta, indicted for “Crimes Against Humanity” by those minions of Pax Americana, the International Criminal Court, to congratulate him for successfully conducting another Kenyan stolen election.

As in every election held in Kenya since Independence over half a century ago the ruling “la familia” stole the election “free, fair and square”. “La Familia” in Kenya means the same extended family of ethnic minority Kikuyu’s ruling Kenya from “Kenya’s Founder” Jomo Kenyatta to his son, Pax Americana’s man of the hour Uhuru Kenyatta, the head of “la Familia” that today owns upwards of 1 million hectares of Kenya’s prime land.  Continue reading Another Kenyan Stolen Election