Beware of 'chief villains' IMF, WB, WTO

As key representatives of the three chief villains of international finance and trade, the IMF, World Bank (WB) and the World Trade Organisation (WTO) met recently in Indonesia where they warned the world of dire consequences in terms of reduced international investments and decline of economic growth as a result of the ever-widening trade wars initiated and instigated by the Trump Administration.

They criticised protectionism that might draw countries into decline of prosperity. The IMF cuts its global economic growth forecast for the current year and for 2019.

This is pure scaremongering based on nothing. In fact, economic growth of the past they claimed of having emanated from increased trade and investments has served a small minority and driven a widening wedge between rich and poor of both developing and industrialised countries. It’s interesting how nobody ever talks about the internal distribution of GDP growth that these handlers and instruments of imperialism and liars for the elite are boasting about.  Nobody ever seems to question the way these growth rates are calculated, or perhaps just drawn out of hot air?

Editor's Comment
Human rights are sacred

It highlights the need to protect rights such as access to clean water, education, healthcare and freedom of expression.President Duma Boko, rightly honours past interventions from securing a dignified burial for Gaoberekwe Pitseng in the CKGR to promoting linguistic inclusion. Yet, they also expose a critical truth, that a nation cannot sustainably protect its people through ad hoc acts of compassion alone.It is time for both government and the...

Have a Story? Send Us a tip
arrow up