African govts’ policies poverty inducing – Lakemfa

Speaking Wednesday in an interview with Daily Trust in Accra, Ghana, Lakemfa asserted that presently, African countries’ policies are dictated by the International Monetary Fund (IMF) and the World Bank and some of their economic programmes are not in tandem with the continent’s developmental needs.He identified infrastructure development, free compulsory education to the middle level, […]

Speaking Wednesday in an interview with Daily Trust in Accra, Ghana, Lakemfa asserted that presently, African countries’ policies are dictated by the International Monetary Fund (IMF) and the World Bank and some of their economic programmes are not in tandem with the continent’s developmental needs.
He identified infrastructure development, free compulsory education to the middle level, power supply, social security and affordable health care as social boosters that could cushion poverty and foster growth in the continent.
Lakemfa rejected the IMF and the World Bank’s privatization campaigns, insisting that it is the responsibility of governments to provide infrastructure.
“Let’s start from the issue of accepting everything the West says. Now the western world has built their countries. They built their countries primarily using the resources of their own countries.
And then when it comes to Africa, they say no. It is the private sector that will do it. No private sector is going to build any country, because the first reason why a person sets up a company is to make profit not to develop anybody.
“So some of the major problems with our leaders are that IMF and the World Bank say the private sector is the engine of development, it is false. They know it is false that no private sector will develop the infrastructure in any country unless it is profitable to do so. And for it to be profitable it must be able to exploit the people,” he said.
For him, the posture of global financial institutions is misconceived as he added, “Anybody who says government has no business in business is a liar. It is the business of government to ensure that the country runs. It is the business of government to ensure that even the private sector complies with the laws of the country”.
Acknowledging that the issue of subsidy by government should be hinged on the developmental needs of the people, the OATUU Secretary-General said education, health-care, power and agricultural sectors are fundamental and hence should be prioritized by government.