Browsing: IMF

A Nigerian human rights activist and Senior Advocate of Nigeria, Femi Falana has called on the Nigerian government should reduce its reliance on the economic predictions and policies of the World Bank and the International Monetary Fund (IMF) and join the economic bloc Brazil, Russia, India, China, and South Africa (BRICS).

The point being made that the IMF and the World Bank lend ‘critical support’ to countries around the globe is well noted. However, the real issues go beyond ‘lending support’ to countries. More pertinent issues are the associated costs, the outcome and impact on the society, of that support. If you support a neighbour in distress to commit suicide, you should not expect a ‘thank you’ note from his children!