In July, the Nigerian House of Representatives adopted a non-binding motion urging the federal government to suspend all activities in respect of an IMF standby loan until the conditions were made public. The motion comes after riots in June following government removal of subsidies for cooking fuel and petrol as a condition for the $1bn standby loan. The Speaker of the House, Umar Ghali Na’Abba called for members to be given full information about the institutions and their relationship with Nigeria, “it is only then that we can be properly equipped to delve into these things,” he said.
After 4 years of on-off negotiation and public opposition, the government of Egypt has signed a loan deal with the IMF whose impacts civil society fears will encroach upon human rights, social protection and social provision, like health and education, upon which the poorest depend.
Investments by the World Bank-hosted Global Financing Facility (GFF) do not reflect the family planning priorities identified by developing countries and local communities. The GFF also continues to suffer from a lack of transparency and meaningful civil society participation, raising doubts about the new mechanism’s effectiveness.
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