Thursday, February 21, 2013
Reduction of Fuel Subsidies in Ghana and National Sovereignty
I am hoping that the recent removal of fuel subsidies imposed upon Ghana by the IMF and World Bank does not result in a chain reaction of price increases for everything else. The fact that almost all economic policies in African states are not in fact controlled by Africans, but by completely unaccountable IFIs representing US and European interests makes democracy on the continent rather lacking in content. What good is electing a leader if he only has symbolic sovereignty over the state while all the important decisions are made by the IMF and World Bank?