And black people always talk about white devil's but they fail to see their own home grown black devils Astonishing. Has my sister said a black man is his own worst enemy.
Part 2: Origins of the Free market & the IMF The IMF was created as advised by John Keynes in 1945, right after World War 2 and the "Great depression", initially to facilitate and stabilise exchange rates between participating countries which was crucial to Europe, who needed financing for its reconstruction from damages caused by the war. However, following internal unrests, economic stagnation under Keynes economic policies & the growing U.S. budget deficits mostly accrued from the Vietnam war in the 1970s, U.S. president Richard Nixon suspended the gold standard form of exchange and coerced it's allies to replace gold as reserve to the U.S. Dollar as advised by "Free market economy" enthusiasts from the Chicago School of Economics. With America being the world largest creditor at the time, replacing gold with the Dollar further solidified its standing as the leader of the "Free world" against the Soviet led Communism and gave them the ability to finance their international objective without a worry about deficits. With the efforts of the C.I.A, the U.S carried out countless missions that sabotaged Soviet leaning countries, swaying them to Globalisation with enough U.S Dollar to print and finance their new liberated economies. The IMF was forced to make changes to its role in the face of U.S foreign policy to ensure and advertise American led global capitalism as the viable option for human progress, expanding its agreements to debt financing and repayments to further uphold the new economic order. African nations, which have long been tortured to subservience by their colonial masters, to an extent they were handed a country and their independence without any form of struggle, seemed ripe for the sort of propaganda that persisted in the battle for supremacy between the Soviet Union and the United States. How they managed to influence our society is a tale for another day. But as we know, the United States won the battle as the Soviet union collapsed.
I honestly disagree with this your content, we the people of Africa always want to blame someone for the bad decision and selfish interests of our leaders, we had independence with some Asian countries. Have you ever heard any president or leaders there doing any blame game?
If you speak with the IMF, they will tell you each country should focus on it's competitive advantage. The West is great at manufacturing and being rich while africa should stay poor and un-industrialised as that is our competitive advantage.
@@nutfair💯 Telling you your own way is wrong, oppressive and many of us believed and being a good machine, we give perpetual output to the controller. I understand that human beings are creatures of habit but this is a bad one!
I'm not african, but wish for the prosperity and success for my African brothers and sisters. I have hope that One day africa will overcome any struggle it faces and will have some of the most developed nations on earth. Love from an indo-trinidadian🇹🇹
@@ifecoAEof course those demons in power know there's fire on the mountain but choose to remain quiet because of the benefits they get from selling out to the colonial thieves.
The annoying part is that the governments of Africa and its politicians don't listen to the populace neither do they learn from their past mistakes. What a pity 💔💔💔. Thanks Jude for this.
Case in point Kenyan president and Adani deal. The president was forcing the deal despite country wide protest against it. But a US indictment of Adani made him cancel the deal. Is he an American president or Kenyan president?
That's because they're not in power for the good of the people but for their self aggrandizement hence their nod to bizarre terms and conditions on loans
That is where the West is getting it wrong. A poor population can not buy foreign goods. China is competing seriously with the West for the African market.
Ebola, slavery, inter tribal conflicts, lack of education, lack of electricity, corruption, colonialisim, small pox, diptheria, cholera, paternalisim, dictatorship, feudalisim. But blame the IMF FFS
Then they say; "We found you poor"/"You ancestors were poor"... You can't be poor with land, livestock & crops as well as antelope & variety of birds to eat in the African wilderness. Bureaucracy is keeping us poor. African chiefs/kings would never survive if their citizens were hungry.
I just discovered this channel, such a gem of africa. 👏 💯 👌 Salute from Ethiopia 🇪🇹 🙌 🙏 The beginning of the video just made me so sad that interest usury is legal or at least not highly regulated by governments. Such an evil tool of capitalism.
Thank you to both of you for all you do to inform and enlighten the people. Unfortunately, and quite sadly, the usefulness of the information you put out there is yet to have the impact needed in order to spur the masses to take necessary action. I hope this happens and pretty soon.
You don't understand the unground system, the leaders re puppets chosen by the west they haven't interest in making Africa better they ain't on Africas side
I am a business man, borrowing is actually good, that is why the west prevailed and the Ottoman empire failed. When I go to the bank to borrow some money, I use that money for my business ONLY. I do not use the money for entertainment! I double or triple the money, give bank their own and put the rest back to work! The main problem is that the vast majority of the people who call themselves African leaders cannot run a KIOSK! They cannot run a lemonade stand. Many have never held a real job throughout their miserable lives. Wealth without enterprise.
Yes and I don't know why brain dead Africans don't get this and are always quick to demonize the IMF or World Bank. These NGOs have the right to doubt proper usage of funds by Africans. Africans have no precedent of a society that excelled in terms of scientific innovation. Why the hell would you give easy loan terms to Africans? Let's be less emotional and realistic about the nature of Africans.
@@narvanamusic2656 Sure, let’s just ignore the strings attached to these loans and the fact that they’re often contracted under duress, as countries are left devastated by imperialism and colonization by the very nations now offering the loans
I am a business man, borrowing is actually good, that is why the west prevailed and the Ottoman empire failed. When I go to the bank to borrow some money, I use that money for my business ONLY. I do not use the money for entertainment! I double or triple the money, give bank their own and put the rest back to work! The main problem is that the vast majority of the people who call themselves African leaders cannot run a KIOSK! They cannot run a lemonade stand. Many have never held a real job throughout their miserable lives. Wealth without enterprise.
It easier to steal because there is little or no oversight. Don’t borrow we have 54 nations if all put a small portion to the elevation of Africans we won’t owe or be in debit to anyone. We have to invest in ourselves so we can dictate the terms. The rest of the world will never play fair with us unless we make them. Historically we have always let our enemies to close and they have always taken turns taking advantage of us. In most African countries we treat Africans as less then foreigners in our country’s. Even look at them as being smart or better. We need to change how we view our selves and how how outside nations view us. The whole world watches as we get mistreated and disrespected. 54 Nations combined would make is the biggest military and economic power over night. The stealing and disrespect would stop. They would have to sit at our table or their country’s will fall because we don’t have to deal with them and they wouldn’t be able to makes us.
Thank you for your hard work and revelatory information. We must make conscious effort to consistently reinvent ourselves individually, to stay relevant as the future unfolds. No matter how tough the going gets, never give up on your self development. Its all you got, and it would eventually pay off.
Good piece there Bro we all can resonate with IMF and their policies as they mean no good to developing countries rather they are meant to impoverish them and make them glued to the western countries 😊😢😮
Thanks Jude for this elucidation. I believe some of us would love to know if there are African nations that have not fallen into d IMF bait and how they have been able to thrive without this help-trap. Our youths and upcoming Nigerians need to learn from them for perhaps d betterment of our nation in d future. Part 2 please. Thanks
Running away just exacerbates the issue and empowers the countries you run to. Those left behind won't hear alternative perspectives other than what the political elites give.
One thing about loans is that you must be disciplined, you mustnhe able to use it as means of solving a specific problem, not managing a problem. Is like a mortgage loan, you get it for mortgage, not getting it to buy a car.
The thing these loans from imf have conditions and those are often to cut production in farming and education and healthcare. So then the African country now outsources all its needs, it’s IMPORTANT needs. And that’s what imf wants!!
I just found your video in my feed. After watching half of the video, I hit the subscribe button. Excellent content. I totally agree that IMF is responsible for keeping Africa poor. However, I also believe that good leadership can counteract IMF's corrosive intentions. After all, look at what Mali has recently accomplished by eradicating their own debt to IMF.
Good leadership isn't enough.! We've had good leaders. And though I could still argue otherwise that most of the so-called bad leaders were western sponsored(through coups, propaganda, manipulation, etc) , a couple of them turned out to be good at some point but their countries had gone in so deep into the trap that any measure or attempt short of outright radicality and rebellion against these institutions, rather contributed to plunge their countries into deeper waters. So yes, Good leadership is required, but at the level we are now, and based on your comparison with Mali, Burkina faso and Niger, even the more, we need RADICAL leadership willing to take 180⁰ turn away from the west. That's the only way.
IMF in DRC ex Zaire in the 70s place conditions on Mobutu to place IMF officials to work in the country's central bank where they devalued the zaire currency over 20 years. They also forced the government to produce only goods for export (sugar, coffee, timber, cocoa) instead of maize, chickens, soya, rice which till today DRC is food insecure. They essentially made the Congo an extractive economy where only raw materials were collected and no industrialisation was promoted. They ensured that even the education system only promoted mostly degrees that would work in these extraction economies such as mining engineering, geology, metallurgy etc instead of agronomy, animal science or computer science. No innovative degrees were promoted.
IMF is evil ,but Mobutu is far away from being innocent ,Zaire was making a lot of money during the copper boom of the 1960 s and Early 70s , Zaire currency was stronger than the Canadian dollar but Zaire became a spendthrift state , the copper revenue money was lavishly spent on pharoanic project and endless state parties ,the government didn't have a plan to create a sovereign wealth fund like others minerals rich countries do (Norway,Saudi Arabia,usa,china,russia etc...). If the copper revenue was put into a sovereign wealth funds to be invest into international corporation(google, Microsoft etc... ) or local successful established business after the copper boom the country could still have tons of cash coming from those investment.
Powerful video. We all need to know to better understand these issues that have caused the problems we see today. Many people don't understand the horrible strategies of western supported international funds like the IMF or WEF... Your video is right on point.
A succinct analysis as always. However, Nigeria hegemony on African economies has been demystified. It now ranks 4th behind South Africa, Egypt, and Algeria. "The Emilokon effect" 😂😂
Knowing too much about the reason why we're where we're today is a huge burden to carry. Is it that difficult for Africa shameless politicians to understand that IMF was created to keep Africa poor. It baffles me that they still don't get.
These arrangements have never worked for us , the more we borrowed the poorer we bacame. Yet, we keep falling into the same traps because of the greed of our so called leaders. I pray that the three countries of the Sahel Region that have decided to tow a different path succeed and be a model for all of Africa. How can we be so rich yet the poorest of the world?
Jude 😢you have just said the ultimate truth that we see with our own eyes everyday from these our evil leaders that stay quiet instead to fight for us like in some countries like the Sahel guys who are taking the bull by the horn
Jude, very well done video. Watching from the US, I remember back at university wondering why so many countries experienced economic shocks and political unrest during the late 1980s. While there are a number of factors (not least of which the fall of the Soviet Union reducing the number of powers to seek economic support from), I failed to realize the common economic structures that caused issues. I do find it interesting that some of the first countries that received IMF aid were ones that were more inclined to seek an independent foreign or domestic policy (Egypt and Algeria both come to mind). The conditions imposed, much as in other examples you provide, forced these states to dismantle social safety nets (subsidies, privatization) or open their economies to imports (some of which got subsidies from the exporting nation). It reminds me of Touré's Guinea, and how de Gaulle cut Guinea out of the French economic system for seeking immediate independence. It also echoes far too many colonial transitions, where the colonial power imposed restraints on how many locals could be educated, in the civil service, etc. Even if these are not done with malice, such actions seek to impose the existing power imbalance and force those who dare go another way to be punished. Another video that dovetails nicely with this is Cogito's video about Haiti. Far too many parallels with the debt traps that have consumed too many countries in the global South.
Wellsaid. The keyword here is "neoliberalism," an economic ideology/framework (aka Free market economy) as advertised and imposed upon the developing world, calling for governments to create policies and infrastructure necessary for an unregulated free-market economy to thrive but which the government must not interfere in. If they do so, in respect to the welfare of their citizens, they risk placing their countries on the path of totalitarianism, communism or socialism away from liberty, freedom, or individualism. Liberty, freedom, and individualism can only be achieved not in respect to ensuring human rights/dignity but rather based on your ability to participate in the market via the stock market, seeking employment or creating a business. The government role is to ensure that the market economy keeps on, providing subsidies, bailouts and regulations in favor of businesses such as tax cuts and reforms, Interest rates, wage cuts, which turns out to mostly favor multinational corporations who will bring in the jobs and infrastructure as discussed during bilateral and international trade deals. The assumption is economic freedom will bring about political freedom; our role as consumers and entrepreneurs will allow us to live the best life possible. How has these turned out we, countries that adopted this economic framework? Neoliberal or the free market framework became the norm after the failure of Keynesian policies in the U.S and at the height of the Cold War, where the U.S and its western allies sort out to propagate to the entire world that American led capitalism was superior and humane as compared to Soviet led communism.
They are not dumb, they are playing their part extremely well, making policies and investments that benefit them and their investors ONLY The nigerian populace is of no concern to them
Thank you for your videos. They are very relevant and informative especially in these times. as Africans work to find our rightful place on the global stage. It's imperative Africans understand the issues and challenges plaguing us collectively.
Two colleagues from the former Eastern block of Europe were conversing, and my curiosity made me listen to them. They discussed politics in their home country, democracy, capitalism, and democracy V communism. They spoke about corruption, massive gaps between the rich and poor, and how Western ideologies create poverty in their democratic countries. Reflecting on their conversation, I thought about how Africa, which has so many resources, is under the thumb of Western policies, and puppet leadership can truly trade as an equal to benefit its growing population.
South Africa, Nigeria, Egypt, Ethiopia, Kenya. Africa's major economies need to start coordinating industrial policies. Dangote has built a refinery plant. He should make a partnership with Angola to refine their oil for them or technology transfer deals. There is demand for petrol on the continent. Focus on meeting demands of African consumers.
I agree largely, but you have to be real about Egypt. Africa doesn’t seem to want to accept how North Africans feel about the continent. Sub Saharan African women are being trafficked through there as we speak; a solution has to be pragmatic as opposed to idealistic. Also Tanzania, Rwanda, Ghana and so many other economies have been able to demonstrate stability models in their regions. To just highlight the big economies is backwards Angola is a HUGE economy and a key player. A solution truly has to be within the Sub Saharan region and comparative advantage should be incorporated when facilitating industrialisation.
Nigeria 🇳🇬, Cameroon 🇨🇲, Ghana 🇬🇭, Benin 🇨🇲, Editorial Guinea 🇬🇳 Uganda 🇺🇬 and Kenya 🇰🇪 are the biggest problem of Africa to move forward out of Western morden slavery in 2024, AES is the future of Africa 🌍
AES is our hope. President Ibrahim Traore, Gen. Tscian and Gen. Assim are the best experiment of good governance in Africa since 1848 Berlin Conference.
The looting and mismanagement of the IMF loans is also a contributing factor to our economic misery...So the said loans are not even utilized for the betterment of the African people but looted by our politicians.
Wait, i want to get this right, you mean Ghana was producing so much rice that it was exporting the excess and the IMF stepped in and requested them to start importing rice instead? some things just leave me speechless!
I really need a source for this because I cannot believe this and after Google-ing I am yet to find data that supports this. It'd be appalling if this truly is the case.
It's true. They did the same to Bangladesh. Imf "recommended" coastline shrimp farming as loan condition because there was market for it in the west. When they implemented the recommendation they could no longer farm crops bcoz they soil was poisoned by saltwater. Long story short Bangladesh is at the bottom of poor list of countries.
Jude your gift of story telling is top notch that even the dullest person in the room will understand so easily. Now i know the main cause of our problems. The primary cause is our greedy politicians and then the west…….🙌🙌🙌❤️❤️❤️
I think we Africans should stop blaming the West for our problems.. look at Asian countries, we were at a similar economic level in the 19's but because of serious and forward-thinking leadership, they have even outpaced some of these Western countries. The problem in Africa today is leadership problem... we have leaders who think about their pockets rather than the progress or development of their country. I think some African leaders are getting it right now though like Rwanda and some southern African countries
@@rw9833such a cop out response. Society’s build nations not individuals. The fact that African society’s are consistently incapable of producing competent leaders is a reflection of their dysfunction. But I guess blaming the West is an easier answer.
Asia is not blessed with as much natural resources as sub Saharan Africa. The West along with others need to have control over it. Their economies would shrink or collapse if Africans controlled and added value to the natural resources. Remember Lumumba.
Sure we need more Patriotic leaders but remember the history of such leaders in Africa. The multiple assassinations and attempts, the demonization of our heroes, the funding of coups and regime changes that ousted competent leaders. There's simply no excuse for the nonsense the west is doing around the world.
Amazing content as always. The clear trend i see in all the cases you cited is the clear mismanagement of those countries by the leaders leading to their collapse. The IMF only comes in to milk what is already broken. If the societies self-governed well, they wouldn't have needed IMF loans in the 1st place. Whilst the UAE was developing their economy with oil money, some prodigal leaders in Africa were wasting it on themselves and frivolities. When oil failed and they had no reserves/investments, they had no choice than to turn to the economic hitmen. I dont blame the IMF at the same level I blame the prodigal leaders...
This is why the West doesn't support any African leader who will liberate its country from Western dependece. Our continuing state of poverty brings more money to their pockets. For this reason, they installed Buhari and Tinubu who they know will gladly do their bidding. A new Nigeria is POssible!!!
Good. I would, however, like to see a specific breakdown of how foreign loans and conditions impact State Spendinig on non-income producing civil society necessities like Sewage, Water and Electrical Grids, Addressable Households, Education and Health. The details are what many people don't understand when you say "government spending", which immediately invokes big-wig waste and theft as opposed to Civil Sociey development and maintenance.
Thanks for this video, Jude. It's really eye-opening. The sooner African countries concentrate on managing its reasons and stop relying on these loans, the better for us to thrive economically.
Thanks! If your analysis is true, I think that most African leaders lack focus and understanding of loans all they hear is the amount of money they are going to get and don’t care about the negative impact on their country and peoples lives! Bouncy of idiots in my book! I your video will open some leaders site and focus on developing their country without any loan .
Hey Jude, thanks for this great documentary. But regarding Egypt, there are alot of things that people don't know, and so you as well. The Egyptian economy and public was doing really badly under Nasser's communist regime, and Sadat understood this. Nasser even stole and nationalised all of the endowments and mosque's properties that were used to feed small numbers of the poor for hundreds of years, he took them and feed the population for few years, which lead to the depletion of the endowments and there was no money left for the poor as a result. In the end, liberalisation was necessary, but the government didn't want political freedom, and economic freedom always brings political freedom, so the Egyptian government limited economic freedom again. Such a poor strategy. The Egyptian government and military impoverished egyptians since the rule of Mohammed Ali Pasha, who indirectly and ignorantly paved the way for the british hegemony in Egypt. I know the history of Egypt, and it's so sad how it destroyed itself since Napoleon Bonaparte's campaign.
Visit invideo.io/i/JudeBela to begin using Invideo to bring your ideas to life.
Needless to comment anything other than commend your spot-on and impressive analysis.
Well done!
And black people always talk about white devil's but they fail to see their own home grown black devils Astonishing.
Has my sister said a black man is his own worst enemy.
Congratulations on your excellent use of AI to come up with that thumbnail. 👏👏
Part 2: Origins of the Free market & the IMF
The IMF was created as advised by John Keynes in 1945, right after World War 2 and the "Great depression", initially to facilitate and stabilise exchange rates between participating countries which was crucial to Europe, who needed financing for its reconstruction from damages caused by the war.
However, following internal unrests, economic stagnation under Keynes economic policies & the growing U.S. budget deficits mostly accrued from the Vietnam war in the 1970s, U.S. president Richard Nixon suspended the gold standard form of exchange and coerced it's allies to replace gold as reserve to the U.S. Dollar as advised by "Free market economy" enthusiasts from the Chicago School of Economics.
With America being the world largest creditor at the time, replacing gold with the Dollar further solidified its standing as the leader of the "Free world" against the Soviet led Communism and gave them the ability to finance their international objective without a worry about deficits.
With the efforts of the C.I.A, the U.S carried out countless missions that sabotaged Soviet leaning countries, swaying them to Globalisation with enough U.S Dollar to print and finance their new liberated economies. The IMF was forced to make changes to its role in the face of U.S foreign policy to ensure and advertise American led global capitalism as the viable option for human progress, expanding its agreements to debt financing and repayments to further uphold the new economic order.
African nations, which have long been tortured to subservience by their colonial masters, to an extent they were handed a country and their independence without any form of struggle, seemed ripe for the sort of propaganda that persisted in the battle for supremacy between the Soviet Union and the United States.
How they managed to influence our society is a tale for another day. But as we know, the United States won the battle as the Soviet union collapsed.
I honestly disagree with this your content, we the people of Africa always want to blame someone for the bad decision and selfish interests of our leaders, we had independence with some Asian countries. Have you ever heard any president or leaders there doing any blame game?
If you speak with the IMF, they will tell you each country should focus on it's competitive advantage. The West is great at manufacturing and being rich while africa should stay poor and un-industrialised as that is our competitive advantage.
😤
That's EXACTLY what they say!
The concept is sound in theory. Question is, who decides what constitutes the competitive advantage and whose interests do such advantages serve?
Don't forget our leaders
@@hundeyinyep
Rather than working with each other, African leaders would rather run to the slave masters for help. Vicious cycle!
The Slave master is African leaders THEMSELVES !!!
The slave master is amongst us, he strategically hid amongst us for century while pointing fingers with us.
The devils come in all different forms
@@nutfair💯 Telling you your own way is wrong, oppressive and many of us believed and being a good machine, we give perpetual output to the controller. I understand that human beings are creatures of habit but this is a bad one!
@@colincole7075no wonder we are all comfortable with it! 😉
I'm not african, but wish for the prosperity and success for my African brothers and sisters. I have hope that One day africa will overcome any struggle it faces and will have some of the most developed nations on earth. Love from an indo-trinidadian🇹🇹
That can only happen when they can accept that they have a problem.
@@ifecoAEWe already know there's a problem what's next?
@@jaypee116 Who are you? You are just an individual on the internet. You are insignificant, the people who matter are yet to do so
@@ifecoAEof course those demons in power know there's fire on the mountain but choose to remain quiet because of the benefits they get from selling out to the colonial thieves.
@@jaypee116 Thank u
The annoying part is that the governments of Africa and its politicians don't listen to the populace neither do they learn from their past mistakes. What a pity 💔💔💔. Thanks Jude for this.
It’s the money that motivates Nigerian politicians
They puppets of the West.
Case in point Kenyan president and Adani deal. The president was forcing the deal despite country wide protest against it. But a US indictment of Adani made him cancel the deal. Is he an American president or Kenyan president?
That's because they're not in power for the good of the people but for their self aggrandizement hence their nod to bizarre terms and conditions on loans
Poverty is big business
..for the west.
FFS. Banks make far more money from wealthy customers than from almost irrelevently poor customers.
That is where the West is getting it wrong. A poor population can not buy foreign goods. China is competing seriously with the West for the African market.
@@conormcmenemie5126 ...don't be absurd - the IMF and WB profit most from loans to developing countries. We're talking chess here, not checkers.
@@illitrait Thanks for the heads up - please show the balence sheet or your source of data.
I call this the DEBT SENTENCE.
Thank you as always for your service.
It's so interesting that in the game of economics, slavery and poverty is of high importance. 😑
Sadly in the global game, we’re the losers and at the bottom of the pyramid.
Well somebody gotta lose. The question is, are Africans tired of losing?
@@veinsofJourneyno they aren’t
IMF is definitely the worst thing that happened to Africa.
But IMF has never forced any of the criminal African rulers
Our leaders are the worse things that happened to Africa.
@JsGOOGLEVOICE so sad
Africa happened to IMF
Ebola, slavery, inter tribal conflicts, lack of education, lack of electricity, corruption, colonialisim, small pox, diptheria, cholera, paternalisim, dictatorship, feudalisim. But blame the IMF FFS
Amazing content. All your stuff is truly top notch
Wow
Thank you for your support 🙏
100% gotta support this channel 👏
Then they say; "We found you poor"/"You ancestors were poor"... You can't be poor with land, livestock & crops as well as antelope & variety of birds to eat in the African wilderness. Bureaucracy is keeping us poor. African chiefs/kings would never survive if their citizens were hungry.
The most astonishing part is that many Africans believe it to be a fact.
Europeans were poor and starving with many diseases B4 they went around the world colonizing
Really love this Jude, more youths(in Africa) need to understand this to know why their countries are sometimes facing economic hardship
bullship
I just discovered this channel, such a gem of africa. 👏 💯 👌
Salute from Ethiopia 🇪🇹 🙌 🙏
The beginning of the video just made me so sad that interest usury is legal or at least not highly regulated by governments. Such an evil tool of capitalism.
🙏
Only Africa can help themselves. Awesome content. Keep it up
Well done Jude! Found this very information-rich and insightful
Thank you, David, this means a lot coming from you 🙏.
Thank you to both of you for all you do to inform and enlighten the people.
Unfortunately, and quite sadly, the usefulness of
the information you put out there is yet to have the impact needed in order to spur the masses to take necessary action. I hope this happens and pretty soon.
What are we doing for ourselves? No one else can take us out of poverty. Our leaders are unfortunately too dull to understand this.
Not dull but Intentional about making you poor and miserable. Open your eyes
They're not dull, they just don't care and know what they're doing
@@seunolawepo1405 My thoughts
You don't understand the unground system, the leaders re puppets chosen by the west they haven't interest in making Africa better they ain't on Africas side
The borrower will always be subject to the lender. This is why I detest borrowing.
I am a business man, borrowing is actually good, that is why the west prevailed and the Ottoman empire failed. When I go to the bank to borrow some money, I use that money for my business ONLY. I do not use the money for entertainment! I double or triple the money, give bank their own and put the rest back to work! The main problem is that the vast majority of the people who call themselves African leaders cannot run a KIOSK! They cannot run a lemonade stand. Many have never held a real job throughout their miserable lives. Wealth without enterprise.
@@ifecoAE Dude, have you watched the video, or are you so dense that even a 28 minute explanation can’t cut through?
Yes and I don't know why brain dead Africans don't get this and are always quick to demonize the IMF or World Bank. These NGOs have the right to doubt proper usage of funds by Africans. Africans have no precedent of a society that excelled in terms of scientific innovation. Why the hell would you give easy loan terms to Africans? Let's be less emotional and realistic about the nature of Africans.
Loans is a very essential part of any Successful Economy, it all depends on how it's used
@@narvanamusic2656 Sure, let’s just ignore the strings attached to these loans and the fact that they’re often contracted under duress, as countries are left devastated by imperialism and colonization by the very nations now offering the loans
Be blessed thanks for all you do 🙌🏾
Thank you so much for your support 🙏
Thank you so much for this! It's sad that issues like this are not discussed or taught in schools 💔
I am a business man, borrowing is actually good, that is why the west prevailed and the Ottoman empire failed. When I go to the bank to borrow some money, I use that money for my business ONLY. I do not use the money for entertainment! I double or triple the money, give bank their own and put the rest back to work! The main problem is that the vast majority of the people who call themselves African leaders cannot run a KIOSK! They cannot run a lemonade stand. Many have never held a real job throughout their miserable lives. Wealth without enterprise.
They don't even have the intention of paying back the loan.
@@marcusgenz4020 facts
Thanks so much, well said
Case in point Kenya. A billionaire without industry 😂
It easier to steal because there is little or no oversight. Don’t borrow we have 54 nations if all put a small portion to the elevation of Africans we won’t owe or be in debit to anyone. We have to invest in ourselves so we can dictate the terms. The rest of the world will never play fair with us unless we make them. Historically we have always let our enemies to close and they have always taken turns taking advantage of us. In most African countries we treat Africans as less then foreigners in our country’s. Even look at them as being smart or better. We need to change how we view our selves and how how outside nations view us. The whole world watches as we get mistreated and disrespected. 54 Nations combined would make is the biggest military and economic power over night. The stealing and disrespect would stop. They would have to sit at our table or their country’s will fall because we don’t have to deal with them and they wouldn’t be able to makes us.
Ohhh, Poor Bango. 😢😢
Thank you for this deep information. I really don't know what to say about African leaders
Yep. True masters in the art of "no f*cks given".
Thank you for condensing complex topics to an engaging way go teach our people. Lack of education is a big problem
🙏
Thank you for your hard work and revelatory information. We must make conscious effort to consistently reinvent ourselves individually, to stay relevant as the future unfolds. No matter how tough the going gets, never give up on your self development. Its all you got, and it would eventually pay off.
Continue with the good work bro.. We have a problem.. Very few ppl with the power would pass such information .. Its so sad ..
Good piece there Bro we all can resonate with IMF and their policies as they mean no good to developing countries rather they are meant to impoverish them and make them glued to the western countries 😊😢😮
Now people do not like western countries and are turning to China and Russia
Great Video Jude. Well detailed. You have never disappoint
Thanks Jude for this elucidation. I believe some of us would love to know if there are African nations that have not fallen into d IMF bait and how they have been able to thrive without this help-trap. Our youths and upcoming Nigerians need to learn from them for perhaps d betterment of our nation in d future. Part 2 please. Thanks
Juuuudddeeee I genuinely wished I ran into a channel like yours 10+ years ago, I would have ran far away from Nigeria
Running away just exacerbates the issue and empowers the countries you run to. Those left behind won't hear alternative perspectives other than what the political elites give.
One thing about loans is that you must be disciplined, you mustnhe able to use it as means of solving a specific problem, not managing a problem. Is like a mortgage loan, you get it for mortgage, not getting it to buy a car.
The thing these loans from imf have conditions and those are often to cut production in farming and education and healthcare. So then the African country now outsources all its needs, it’s IMPORTANT needs. And that’s what imf wants!!
Keep up the good work! 👏
Thank you! Will do! Thanks for your support.
I just found your video in my feed. After watching half of the video, I hit the subscribe button. Excellent content. I totally agree that IMF is responsible for keeping Africa poor. However, I also believe that good leadership can counteract IMF's corrosive intentions. After all, look at what Mali has recently accomplished by eradicating their own debt to IMF.
Good leadership isn't enough.! We've had good leaders. And though I could still argue otherwise that most of the so-called bad leaders were western sponsored(through coups, propaganda, manipulation, etc) , a couple of them turned out to be good at some point but their countries had gone in so deep into the trap that any measure or attempt short of outright radicality and rebellion against these institutions, rather contributed to plunge their countries into deeper waters.
So yes, Good leadership is required, but at the level we are now, and based on your comparison with Mali, Burkina faso and Niger, even the more, we need RADICAL leadership willing to take 180⁰ turn away from the west.
That's the only way.
IMF in DRC ex Zaire in the 70s place conditions on Mobutu to place IMF officials to work in the country's central bank where they devalued the zaire currency over 20 years.
They also forced the government to produce only goods for export (sugar, coffee, timber, cocoa) instead of maize, chickens, soya, rice which till today DRC is food insecure. They essentially made the Congo an extractive economy where only raw materials were collected and no industrialisation was promoted.
They ensured that even the education system only promoted mostly degrees that would work in these extraction economies such as mining engineering, geology, metallurgy etc instead of agronomy, animal science or computer science. No innovative degrees were promoted.
IMF is evil ,but Mobutu is far away from being innocent ,Zaire was making a lot of money during the copper boom of the 1960 s and Early 70s , Zaire currency was stronger than the Canadian dollar
but Zaire became a spendthrift state , the copper revenue money was lavishly spent on pharoanic project and endless state parties ,the government didn't have a plan to create a sovereign wealth fund like others minerals rich countries do (Norway,Saudi Arabia,usa,china,russia etc...).
If the copper revenue was put into a sovereign wealth funds to be invest into international corporation(google, Microsoft etc... ) or local successful established business after the copper boom the country could still have tons of cash coming from those investment.
Powerful video. We all need to know to better understand these issues that have caused the problems we see today. Many people don't understand the horrible strategies of western supported international funds like the IMF or WEF... Your video is right on point.
A succinct analysis as always. However, Nigeria hegemony on African economies has been demystified. It now ranks 4th behind South Africa, Egypt, and Algeria. "The Emilokon effect" 😂😂
Well done.
Thank you for your support 🙏
Knowing too much about the reason why we're where we're today is a huge burden to carry.
Is it that difficult for Africa shameless politicians to understand that IMF was created to keep Africa poor. It baffles me that they still don't get.
Wonderful video. It is very encouraging and revealing of the evils of IMF. Keep it up to educate Africans and their leaders pls.
Thank you, Mr. Journalist for your content 🙏 👏 😊
Excellent video! 👏🏾 Well done.
It is truly refreshing to see a youth who is not just interested in history but working to master it. We'll done!
I appreciate that!
These arrangements have never worked for us , the more we borrowed the poorer we bacame. Yet, we keep falling into the same traps because of the greed of our so called leaders. I pray that the three countries of the Sahel Region that have decided to tow a different path succeed and be a model for all of Africa. How can we be so rich yet the poorest of the world?
Just like when I watch football, your documentaries are always ecstatic! Wonderful work as always ❤️
You're a blessing to us all jude
Jude 😢you have just said the ultimate truth that we see with our own eyes everyday from these our evil leaders that stay quiet instead to fight for us like in some countries like the Sahel guys who are taking the bull by the horn
Jude, very well done video. Watching from the US, I remember back at university wondering why so many countries experienced economic shocks and political unrest during the late 1980s. While there are a number of factors (not least of which the fall of the Soviet Union reducing the number of powers to seek economic support from), I failed to realize the common economic structures that caused issues.
I do find it interesting that some of the first countries that received IMF aid were ones that were more inclined to seek an independent foreign or domestic policy (Egypt and Algeria both come to mind). The conditions imposed, much as in other examples you provide, forced these states to dismantle social safety nets (subsidies, privatization) or open their economies to imports (some of which got subsidies from the exporting nation).
It reminds me of Touré's Guinea, and how de Gaulle cut Guinea out of the French economic system for seeking immediate independence. It also echoes far too many colonial transitions, where the colonial power imposed restraints on how many locals could be educated, in the civil service, etc. Even if these are not done with malice, such actions seek to impose the existing power imbalance and force those who dare go another way to be punished.
Another video that dovetails nicely with this is Cogito's video about Haiti. Far too many parallels with the debt traps that have consumed too many countries in the global South.
Wellsaid.
The keyword here is "neoliberalism," an economic ideology/framework (aka Free market economy) as advertised and imposed upon the developing world, calling for governments to create policies and infrastructure necessary for an unregulated free-market economy to thrive but which the government must not interfere in. If they do so, in respect to the welfare of their citizens, they risk placing their countries on the path of totalitarianism, communism or socialism away from liberty, freedom, or individualism.
Liberty, freedom, and individualism can only be achieved not in respect to ensuring human rights/dignity but rather based on your ability to participate in the market via the stock market, seeking employment or creating a business. The government role is to ensure that the market economy keeps on, providing subsidies, bailouts and regulations in favor of businesses such as tax cuts and reforms, Interest rates, wage cuts, which turns out to mostly favor multinational corporations who will bring in the jobs and infrastructure as discussed during bilateral and international trade deals.
The assumption is economic freedom will bring about political freedom; our role as consumers and entrepreneurs will allow us to live the best life possible.
How has these turned out we, countries that adopted this economic framework?
Neoliberal or the free market framework became the norm after the failure of Keynesian policies in the U.S and at the height of the Cold War, where the U.S and its western allies sort out to propagate to the entire world that American led capitalism was superior and humane as compared to Soviet led communism.
Wow! Jude is the best when is comes to classified contents in Nigeria.
We have dumb leaders in Africa.
Evil. Greedy and evil.
Cowards
They are not dumb, they are playing their part extremely well, making policies and investments that benefit them and their investors ONLY
The nigerian populace is of no concern to them
They are western puppets
Their loyalty is elsewhere.
Thank you for your videos. They are very relevant and informative especially in these times. as Africans work to find our rightful place on the global stage. It's imperative Africans understand the issues and challenges plaguing us collectively.
Wish videos like this pop up from time to time not only watching movies on TH-cam and football. When we can learn all this
Another masterpiece Mr Jude Bela 👍
Two colleagues from the former Eastern block of Europe were conversing, and my curiosity made me listen to them. They discussed politics in their home country, democracy, capitalism, and democracy V communism. They spoke about corruption, massive gaps between the rich and poor, and how Western ideologies create poverty in their democratic countries. Reflecting on their conversation, I thought about how Africa, which has so many resources, is under the thumb of Western policies, and puppet leadership can truly trade as an equal to benefit its growing population.
This sounds like Tinubus playbook
For real oo. This is just too coincidental
T-Pain is a CIA asset
We love your work, Mr Jude..
Keep going 🎉
This is a masterpiece Jude
ABSOLUTELY 💯, these policies and trade deals need to be scrutinised! Africa is independent on paper, but dependent on foreign policymakers…
Wow this was very comprehensive and well presented … Thanks Jude ✊🏿
Wow!!
Thank you for this, Jude.
Thank you so much for the broad wide view of your knowledge 🙏🏻
South Africa, Nigeria, Egypt, Ethiopia, Kenya. Africa's major economies need to start coordinating industrial policies. Dangote has built a refinery plant. He should make a partnership with Angola to refine their oil for them or technology transfer deals. There is demand for petrol on the continent. Focus on meeting demands of African consumers.
I agree largely, but you have to be real about Egypt. Africa doesn’t seem to want to accept how North Africans feel about the continent. Sub Saharan African women are being trafficked through there as we speak; a solution has to be pragmatic as opposed to idealistic. Also Tanzania, Rwanda, Ghana and so many other economies have been able to demonstrate stability models in their regions. To just highlight the big economies is backwards Angola is a HUGE economy and a key player. A solution truly has to be within the Sub Saharan region and comparative advantage should be incorporated when facilitating industrialisation.
Thank U Jude for doing what U're doing. U're such an inspiration.
It’s heartbreaking to hear this
Unfortunately, that's the bitter truth.
Nigeria 🇳🇬, Cameroon 🇨🇲, Ghana 🇬🇭, Benin 🇨🇲, Editorial Guinea 🇬🇳 Uganda 🇺🇬 and Kenya 🇰🇪 are the biggest problem of Africa to move forward out of Western morden slavery in 2024, AES is the future of Africa 🌍
Thank you for showing us , the reality is in front our eyes. S.wonder can see.
AES is our hope. President Ibrahim Traore, Gen. Tscian and Gen. Assim are the best experiment of good governance in Africa since 1848 Berlin Conference.
The looting and mismanagement of the IMF loans is also a contributing factor to our economic misery...So the said loans are not even utilized for the betterment of the African people but looted by our politicians.
😢 true
Start by de-colonizing Africa's education curriculum. We study useless courses, instead of STEM programs that will transform our material conditions
This is just what I needed for my next exam. Everything I've been reading in one video❤
Keep up the good work JB. God bless your works
Thank you, I will
Jude, thank you for putting up and sharing this insightful video.
Glad you enjoyed it!
Well said
Analysis was spot on
Thumb 👍 up
The thumbnail and this video is fire. I really hope they don't silence you.
really interesting and revealing. Thank you Jude
Wait, i want to get this right, you mean Ghana was producing so much rice that it was exporting the excess and the IMF stepped in and requested them to start importing rice instead? some things just leave me speechless!
Fr our leaders are the real cause
I really need a source for this because I cannot believe this and after Google-ing I am yet to find data that supports this. It'd be appalling if this truly is the case.
It's true. They did the same to Bangladesh. Imf "recommended" coastline shrimp farming as loan condition because there was market for it in the west. When they implemented the recommendation they could no longer farm crops bcoz they soil was poisoned by saltwater. Long story short Bangladesh is at the bottom of poor list of countries.
He should give us his source document, simple. No need to debate this.
Jude your gift of story telling is top notch that even the dullest person in the room will understand so easily. Now i know the main cause of our problems. The primary cause is our greedy politicians and then the west…….🙌🙌🙌❤️❤️❤️
@@jakeisaac9787 Thank you 🙏
I love you presentation and it opened my eyes too
Great report!❤
Great content. Very insightful
Well done Jude more grace....nice one
Weldone on your research skills. If they wont reach history at schools, your videos will teach GEN ALPHA
I think we Africans should stop blaming the West for our problems.. look at Asian countries, we were at a similar economic level in the 19's but because of serious and forward-thinking leadership, they have even outpaced some of these Western countries. The problem in Africa today is leadership problem... we have leaders who think about their pockets rather than the progress or development of their country. I think some African leaders are getting it right now though like Rwanda and some southern African countries
The leaders are puppets of the west. You are under western rule but with black face
The leaders got killed or overthrown by people. Sankara, Nkrumah, etc. 20 plus and counting.
@@rw9833such a cop out response. Society’s build nations not individuals. The fact that African society’s are consistently incapable of producing competent leaders is a reflection of their dysfunction. But I guess blaming the West is an easier answer.
Asia is not blessed with as much natural resources as sub Saharan Africa. The West along with others need to have control over it. Their economies would shrink or collapse if Africans controlled and added value to the natural resources. Remember Lumumba.
Sure we need more Patriotic leaders but remember the history of such leaders in Africa. The multiple assassinations and attempts, the demonization of our heroes, the funding of coups and regime changes that ousted competent leaders. There's simply no excuse for the nonsense the west is doing around the world.
Amazing content as always. The clear trend i see in all the cases you cited is the clear mismanagement of those countries by the leaders leading to their collapse.
The IMF only comes in to milk what is already broken.
If the societies self-governed well, they wouldn't have needed IMF loans in the 1st place. Whilst the UAE was developing their economy with oil money, some prodigal leaders in Africa were wasting it on themselves and frivolities. When oil failed and they had no reserves/investments, they had no choice than to turn to the economic hitmen.
I dont blame the IMF at the same level I blame the prodigal leaders...
You have a good knowledge of World economics.
Bro is a researcher…. Nice, very nicce
If I was the president of Nigeria, I will pull Nigeria out of IMF and align myself with BRICS
Thanks bro nice video
This is why the West doesn't support any African leader who will liberate its country from Western dependece. Our continuing state of poverty brings more money to their pockets. For this reason, they installed Buhari and Tinubu who they know will gladly do their bidding. A new Nigeria is POssible!!!
Good. I would, however, like to see a specific breakdown of how foreign loans and conditions impact State Spendinig on non-income producing civil society necessities like Sewage, Water and Electrical Grids, Addressable Households, Education and Health. The details are what many people don't understand when you say "government spending", which immediately invokes big-wig waste and theft as opposed to Civil Sociey development and maintenance.
An amazing piece of very high quality
Amazing video. Well researched and well presented
Very insightful video. Truly this loans are another means of control!💯
Thanks for this video, Jude. It's really eye-opening. The sooner African countries concentrate on managing its reasons and stop relying on these loans, the better for us to thrive economically.
Just subscribed... Maybe history told from our own voices will wake more people up...
Kudos!!!
Thank you 🙏
Thanks! If your analysis is true, I think that most African leaders lack focus and understanding of loans all they hear is the amount of money they are going to get and don’t care about the negative impact on their country and peoples lives! Bouncy of idiots in my book! I your video will open some leaders site and focus on developing their country without any loan .
Great stuff 👏 Jude. Keep educating us!
Once again, wonderful content. 👏🏾👏🏾
Thanks for sharing Afrika leaders need to start thinking about working together
The South of the Sahara Africa needs to unite. It's a must for blk African survival.
FESPACO 22nd February -1st March 2025
Ouagadougou, Burkina Faso
Thank you, good job
Fespaco can piss off. We're not interested
I LOVE THE THUMBNAIL. DO ANOTHER ONE .
Sorry I didn't mean to shout hehe
We don’t mind at all…
Great job, Mr. Jude.
Very very detailed analysis. May the Good Lord bless you in Jesus name
Thank you kindly
Hey Jude, thanks for this great documentary. But regarding Egypt, there are alot of things that people don't know, and so you as well.
The Egyptian economy and public was doing really badly under Nasser's communist regime, and Sadat understood this. Nasser even stole and nationalised all of the endowments and mosque's properties that were used to feed small numbers of the poor for hundreds of years, he took them and feed the population for few years, which lead to the depletion of the endowments and there was no money left for the poor as a result. In the end, liberalisation was necessary, but the government didn't want political freedom, and economic freedom always brings political freedom, so the Egyptian government limited economic freedom again. Such a poor strategy. The Egyptian government and military impoverished egyptians since the rule of Mohammed Ali Pasha, who indirectly and ignorantly paved the way for the british hegemony in Egypt. I know the history of Egypt, and it's so sad how it destroyed itself since Napoleon Bonaparte's campaign.
Thank you for this clarification. I'm interested in learning more about Egypt’s history, so I will do well to read more on the subject.