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60 Years of Failed Political Leadership@ African Union: Our Leaders Unable To Manage The Economy Well Without IMF Bailouts

60 Years of Failed Political Leadership@ African Union: Our Leaders Unable To Manage The Economy Well Without IMF Bailouts

Yesterday, 25th May 2023 marked exactly 60 years after the formation of African Union, a similar move to the European Union.Almost all the 55 Member States of Africa have been to the IMF for several times for economic bailouts and fiscal stability.

If African political leaders cannot manage our economies prudently well without always running to the IMF for bailouts then what is the sense in wasting our precious time every four or five years to elect them to lead us in the first place.

Without borrowing from IMF, World Bank and other Sovereign countries mostly USA, Europe, China etc., it is increasingly becoming difficult for any African Countries to survive on their own in terms of the management of the economy regardless of the vast resources that we have on the continent.

USA, China, Russia, UK, France, Japan and others always have high debt to GDP Ratios but what make the difference between them and African countries is that they have the CAPACITY to pay and service their debts without any issues of defaults.In most African countries including Ghana, if you want development in your constituency, you only just have to pray for your Member of Parliament to die.

We have taken into Government the traditional mindset of, "we only renovate and paint family houses after the death of a family member."Our African leadership promise more than delivering on their promises and we are always quick to put the blame on external forces or issues for our economic woes without accepting any responsibility for our own homegrown mistakes, recklessness and wastefulness.

After 60 years of African Union, we are still crawling instead of walking and running.Even with the crawling, without IMF Bailouts it will be difficult to do so consistently and smoothly.We talk more than taking action.

African Countries deserve right and quality leadership far better than what the citizens are experiencing.However, there is still hope for the next generation to turn things around and reposition the 55 Member States of African Union to be more competitive on the global market.

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Original Story on: PeaceFMOnline
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