Augustin Matata, DRC Prime Minister says Africa’s development should not be premised on aid from international financial institutions but on prudent macro-economic stability and reforms
The Prime Minister of the Democratic Republic of Congo (DRC), Augustin Matata has stated that Africa’s development should not be premised on aid from international financial institutions.
Matata indicated that ending extreme poverty in Africa will not be achieved any time soon if African leaders continue to excessive rely on the International Monetary Fund (IMF) and the World Bank for support, Ghanaweb reported.
The Prime Minister was addressing delegates at a forum to discuss poverty alleviation, in line with attaining the Sustainable Development Goals (SDGs) by 2030.
Matata’s statement reignites the debate over the relationship between Africa and international institutions.
According to Matata, fighting and ending poverty in Africa would depend on prudent macro-economic stability and reforms. African leaders would need to critically focus on good governance, devoid of wanton corruption and abuse of public office, Ghanaweb reported.
However, others believe the reforms should start with the international organisations themselves. Some African governments have been on a collision course with international financial institutions over debt repayment. Other organisations (International Criminal Court and IMF) have often been accused of imperialistic and unfair practices.
There are a number of countries who believe that Africa is getting a raw deal from these international institutions. Recently, South Africa’s governing party, the African National Congress (ANC) indicated its intention to pull out of the ICC, citing the unfair treatment of Africans.