Africa: World Bank Policies Not Helping Africa

source: allAfrica
Public Agenda (Accra)
Akwasi Fredua
6 April 2010

A member of the United Nations Committee on Development Policy, Prof. Alice Amsden, has tasked African countries to move away from what she described as the World Bank’s “One policy fits all approach” to the Oil Producing and Export Countries (OPEC) model if Africa wants to achieve export competitiveness.

She explained that members of OPEC have an intimate knowledge and understanding of their own economies and devise strategies on production and through these methods the group has done very well economically even though many of its members started as debt-ridden poor countries just like all African countries.

“OPEC has a strong business model which is based on a national oil company that is professionally managed. This model is being reproduced in Latin America as the Bolivar initiative under the leadership of Venezuela, although hatred for Chavez blinds researchers to [continue reading]

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