Africa, Latin America and the IMF's role in Economic Colonialism

What did Ghana need the loans for? I have always heard Ghana, Ivory Coast, and a couple of others to be places of economic growth, ripe for investment....what happened?

"I coulda freed thousands more if only they had known they were slaves..."

Harriet Tubman

Negrospiritual, as far as I can tell they needed the money to stimulate that economic growth. And in Ghana there exists a large population of people that are so far below the poverty line. Let me go on a bit about the situation in Ghana. From the documentary and discussions that I've seen on Ghana they are already exploiting the natural resources. There are European private mining companies who are paying the people for their homes, not land. Which I gather are just pennies on the dollar. There are no laws to protect the people from enviromental hazards due to the mining. These are some of the complaints that were raised on this documentary.(Go to linktv.org) Now, on C-Span it was brought up that now that Ghana has defaulted on the loan that the IMF (World Bank) is going to forgive the high interest loans. A condition of this debt relief is to open up their country to foreign companies and investors and privitize everything. There was a march in Washington DC against the world bank about this issue. The point of contention was the privization of water.
IMANGINE THAT! Privitized water vs government run utilites.The argument was poor people would never be able to afford water. The people who were against this see the inequities in this logic and also see the door opening to a "takeover" by foreigners. And they're justified in this opinon.

Now all of this ties in to the demonstrations that have happened in Seattle WA, Durban South Africa and Canada. The protesters are against globalization. Many representatives from these countries, especially from South America and Africa have been at these protests.

I hope that kinda sorta anwers your question? The short answer is that yes they were open for economic growth for European countries.

More comments please.....

Souljah

Hello Souljah,

"But in all honesty, I think that this is a way for the European (US included) powers to exploit South America and Africa for their natural resources. Because once they default on the loan a condition of the "default" is to allow everything, I mean everything, to become privitized. This is just a way to economically colonize Africa and South America."

A community is best exploited when the leadership and/or the people of the community allow outsiders to exploit the community for personal gain, at the expense of their own immediate culture or community .

Some people have issues with Fidel Castro, but Fidel Castro over the years has done more to improve the quality of life in Cuba than any other Cuban leader. Castro ended the playhouse of "Big Business" to use Cuba as a resort for the wealthy at the expense of native Cuban people. The United States, under the direction of former President John F. Kennedy, blocked economic trade in hopes of starving Cuba into submission. The plan of the U.S. and/or others, to starve out Cuba failed. This major accomplishment is credited to the many loyal native people of Cuba, coupled with Fidel Castro's strong leadership to put Cuba on the map, not as a paradise for the rich and famous, but for the sovereignty of the native Cuban people.

Cuba, through hard work, sacrifice, education, loyalty, ingenuity, and/or perseverance of its citizens, now has very good schools, quality hospitals, that prior to the exile of the traitor set Cuban "sell out leadership", didn't exist. Cuba, through Fidel Castro's leadership, and the loyalty of the native Cuban people has survived it all, in spite of being denied access to world trade.

Should Black Africa's leadership stand tall in the name of Black Africa, and/or Black America's own elected leadership stand tall to serve, protect, and defend communities of Black people across the U.S., the same or similar progress will materialize in Black Africa, and/or the U.S. Until this happens, it will be business as usual, which means the "Death of Black People" if this counter productive activity is not arrested.

It is not in Caucasian America's or any other ethnic group's best interest to be the first to speak out in behalf of any other ethnic group other than their own. Basically, "Birds of a Feather Flock Together" or "Perish Together", based upon how strong their will is to survive, maintain, and/or promote their own future posterity.

Sincerely,

Michael Lofton

[This message was edited by Lofton on November 09, 2002 at 02:38 PM.]

Greetings All,
Some time ago a wrote a piece on AfricanAmerica concerning just this juxtaposition. ADOAWILAE or the Africans of Diaspora, namely in America where we represent the largest consumer class per capita at 12% of the population. Something ridiculus in the hundred billions!, it was mentioned that the debts on Africa or the need before the debt could be addressed by our large expendetures and brought under a financial umbrella benefitting all. The IMF, world bank loan sharks single handedly opened south and central America up to corporate take overs. Corporate Emperialism, that is the catch word. Africa in all her rich history and vastness can be auctioned off in nation size pieces because we think it arrogant to wanna offer help or ideas as diasporic grand children. Comfortable at home in the "Worlds Big House, America". The US's huge surplus of Genetically contiminated food i.e. corn, wheat, canola and soy, were dam near forced on African nations pressed for agricultural autonomy. Under the guise of the "World Summit", African nations were lashed verbally along with Robert Mugabe's government pressing to free Land and return it to black control. For the record the white farmers were harvesting cash crops not national crops for consumption these lands DID NOT serve the people. That said opinions will fly, so be it. We in diaspora must come together to make an investment as big as AFRICA and understand what that means, NOT that where the saviors or better, just some of the, if not only people who would save Africa with the, OUR people in mind and not our pockets!!!. No the IMF can not prop up a devistated continent but a people united can work to those ends. South and Central America could be stimiulated by trade with Africa a people feeding people program and a cooperative construction and production program to UNITE economies like the underdog's Euro(unified money against the dollar). Feel Me, Africa is the center of the world the largest continent outside of Asia as europe is a boardered designation, but hands down the RICHEST in everything viable to hueman kind from knowledge to reefers. Why are we debating the plot and their division of our home why are we not discussing some type of conclusive action, plan to organize all this technology and intellect, we treat our potential like gunpowder fired in the open air unconstrained or directed by science, blind force and loose organization a deadly combination. This is an assessment not an attack, this is more of a call to U, mindful soulwarriors. Knowledgable and awake enuff to recognize the aftermath of a calculated manuever. Imagine seeing it and being able to mobilize and divert it and in doing so secured a place for a grand child to visit or live the way italians go back to italy to retire or chinese to china etc. Wake up to our place and lets act to improve upon it, lets move on progress!
Peace Love Light
Khem Saqa