Ghana: Let’s avoid IMF borrowing (1)

SETH-TERKPER2Ghana does not need any loans from the International Monetary Fund because the country is too rich to be poor. We appear destitute all because of waste. With so many Brazil World Cup scenarios and many Alfred Wayomes in the country, what do you expect? Besides, corruption alone swallows up about 25 per cent of the country’s Gross Domestic Product (GDP). What is the IMF telling us that we do not know already?

The IMF has a hidden agenda aimed at impoverishing Third World nations so that we may turn up to them from time to time. Conditionalities for their loans are so well intricately planned with cryptic undertones intended to give you a temporary relief. If you follow their guidelines, economic conditions in your country will go sour again making you run back to them 10 to 15 years down the road.

Then they will “save” you by giving you more of the same pills that will make you go back to them again. Take Ghana as an example. Why do you think we go to the IMF from time to time?

To understand the nature of the IMF, first, let us look at when, how and why the IMF was formed. Through that, you will come to appreciate why the IMF never helps you.

During the period of the city states (Athens, Olympia, Corinth, Sparta, Delphi, etc.) from about 750 to 480 B.C., the wicked white race put all other races in a hole and covered them up by destroying their institutions. Yes, even before the most influential man, the most enigmatic man, the most powerful man ever to walk this planet – Jesus Christ himself – was born!

When Obama came to Ghana, he gave us a big piece of advice: “What Africa needs are strong institutions”. What he would not explain to us, however, was that we had the institutions, but they were destroyed by the white race at the time of the city states.

Lost civilization

For proof of our destroyed powerful institutions, go to the ancient Mamma Haidara library in Timbuktu where you will find traces of our own mode of teaching using our own medium of communication, our own alphabets, our own numbering system, etc.Our powerful institutions turned out our own astronomers, doctors, engineers, philosophers, scientists and architects.

For us to develop like the white race, we first have to come out of the hole. But can we?About 21 centuries after destroying our institutions, they colonized us. After we struggled to attain independence in the 20th century, they formed very powerful international organizations (The Bretton Woods institutions and the U.N.) to nurture the situation.So, long after independence, we have not been able to achieve much because we are still in the hole!


Prime movers for the so-called international laws, they make the rules to cover and protect themselves. Example is the law on visa. If you want to visit another country, you have to pay for (that is, “buy”) a visa.

Now, in the poor countries the visa law is used to milk the nation. If you refuse to sell me the visa, why do you still pocket my money? Yet, they do not do that in the advanced countries.

The windfall from the visa illegality alone is so much that they use it to buy big tracts of land in prime areas in the poor countries, and according to their baneful international laws, the land is part of their countries.

Then, they fill the embassies with designations like: First Secretary X, Second Secretary Y, Economic Counsellor P, Development Counsellor M, etc. Most of those incumbents are spies.

Always nosing around, when they note that an illustrious and fiery leader can bring his nation out of the hole, they eliminate him, employing that nation’s own soldiers. That is what happened to Kwame Nkrumah; then to Patrice Lumumba, who was talking and behaving like Nkrumah.

Good economic resources in your country are for them, too. If you refuse to surrender any to them, they eliminate you. Because of the Panama Canal, look at what they did to Manuel Noriega, the leader of that nation. And no one said a word. One does not even know what is happening to him now.

Next, when they wanted the oil of Iraq, they eliminated Saddam Hussein, and soon the oil was on its way to America and Europe.

Then, when Gaddafi booted out the Italian colonialist, he was able to use the national wealth for the development of his nation. To get the oil, they now had to pay for it. And since they did not like that, they went and eliminated him too. And now guess where the oil wealth is going!

The one on their radar now is Mugabe. Noting how the man started out, they knew he could bring Zimbabwe out of the hole. So, look how they have constantly seriously sabotaged Zimbabwe’s economy. As usual, they have resorted to employing Zimbabwe’s own nationals to do the dirty job of killing him. They have used many tactics, but tough Mugabe still marches on.

Here, Gaddafi needs a special mention. After booting out the Italian colonialist suckers, he used the oil wealth very well to develop the country.

The white world could not access the wealth cheaply anymore. Realizing that little by little he was bringing the country out of the hole, they determined to eliminate him.

All they needed was a spark, which they engineered and found in Benghazi. As usual, they used Libyans to get rid of the leader so as to get access to the country’s wealth. After creating turmoil, they are busily taking the oil out to Europe and America.

When Europeans destroyed our institutions, there was no USA. But then,in the 16th century, some of them moved to America, got established, and decided to kill off the native Indians who lived there so as to take over the vast land. America grew so powerful that they soon started to rub shoulders with Europe for the control of the world.

In the 20th century, two world wars came. After the Second World War (1939-1945), the economies ofall European countries had been shattered completely. So, in 1944, they met in Bretton Woods located in the state of New Hampshire in the USA to lay the foundation for the modern international monetary system.

It was there that the three powerful international institutions commonly referred to as the Bretton Woods institutions came into existence – the World Bank (WB), the International Monetary Fund(IMF) and the World Trade Organization (WTO).

When the Bretton Woods institutions were eventually formed in 1946 in the ashes of the Second World War by the so-called great powers, it was for the postwar resuscitation and control of the world economy in favour of Europe and America.

Under an unwritten implied agreement, Europe and America shared the two powerful financial institutions: Europe accidentally got the very powerful IMF while the less powerful World Bank went to the USA.

When the WB president position became vacant in 2012, Dr. (Mrs.) Ngozi Okonjo-Iweala, a globally renowned economist from Nigeria applied for the post and spiritedly pursued it.

This was a highly qualified woman who had worked at the World Bank as Managing Director for several years. Since la raison d’être of the WB is poverty alleviation, she harped on her background as someone who has first-hand knowledge of poverty since she had lived it as a Nigerian.

I laughed, knowing very well that they would never give her the post, all because she was not an American. Eventually who got the job? An American of Korean descent called Jim Yong Kim who is not even an economist.

The designation of the boss of the WB is “President”. So far, there have been 11 presidents, all of them Americans. This is because the WB is for America!

Meanwhile, when Dominique Strauss-Kahn, IMF boss, disgraced himself in 2012 by raping Nafissatou Diallo, a girl from Guinea, in his hotel room in New York, public outcry forced him to resign from the post.

And who got the job? Another European by name Christine Legarde.

The designation of the boss of the IMF is “Managing Director”. So far, there have been 11 managing directors, all of them Europeans. This is because the IMF is for Europe!

I have repeated over and over again that international laws were made with no regard to the poor African and the deck is heavily stacked against this continent.

In 1946 for instance, apart from Ethiopia, the only country in Africa, which the European could not colonize, which African countries were independent?

Don’t say Liberia, because that country’s independence was granted in 1847 on a silver platter in an attempt to solve a delicate slavery problem on the hands of America.

It was one of the early presidents of America, James Monroe, whose doctrine strongly advocated the return of the slaves to the motherland. That explains why the capital was named after him – Monrovia.

By Rodger Agyin

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