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.
World Bank & IMF in the news
This briefing explains how the IMF and World Bank have driven the financialisation of MENA states, and the pervasive negative effects this has had on the region’s societies and economies.
Joint civil society briefing paper highlights concerns with the World Bank’s Evolution Roadmap, and provides a series of recommendations for a Roadmap that prioritises people, participation and the planet over profit and economic growth.