THE IMF/World Bank have always masked their corrupt intentions in several guideline clauses meant to inspire what they call TRANSPARENCY in how colonial Third World recipient countries utilise their loans even when the cost of procuring such itemised goods and services using their preferred participating European and America member countries/companies was and still is sometimes 10 times higher than from a competitive cheaper Chinese/Indian and sometimes our own cheaper local Zambian suppliers.
You can Google “World Bank guidelines” and you will find numerous bizarre guidelines and conditions even on how to purchase preferred foreign made needles and bandages to force Third World countries, despite they are also World Bank member states- ensure they abide or they’re considered non complaint and don’t get the loans. The most recent guideline is a 2016 World Bank document called “New Procurement Framework and Regulations for Projects after July 1, 2016.” WWW.policies.worldbank.org. You’ll be amazed that after 54 years of independence; these guidelines do not mention nor deliberately encourage local capacity building and participation in World Bank/IMF funded contracts in any form.
Haven’t you wondered, when the World Bank advertises for a big electricity dam project in a developing country, suddenly you hear say Caterpillar, an American company, and it doesn’t matter it is a small amount say US$500 million, to supply an African country with say ordinary gravel feeder road Graders, the stock of Caterpillar on the various Stock Exchanges will suddenly rise higher? And do you wonder sometimes the stock rises faster and before the recipient developing African country knows its loan has been approved by the World Bank? Why?
Do you remember the terminology used in all such instance? “Caterpillar stock are headed to rise due to forthcoming tenders for equipment supplies from several dam and road construction project contracts in Africa”…or something of sort?
Western pharmaceutical company
This is also often the case when a Western pharmaceutical company stock rises due to an Ebola outbreak in an African country such as happened in Congo and Sierra Leone. Why do you think that happens all the time? They call it “speculator instinct”…and you believe them? C’mon!
How come the western preferred companies know well in advance before the recipient nations have even begun the evaluation processes to procure the items from that country if the original aim of the World Bank guidelines was to trigger TRANSPARENCY in Third World recipient countries/ procurement processes?
Perhaps, let me just ask a stupid question; are you aware there’s heavy insider trading (lobbying) within all the IMF/ World Bank procurement processes? If not then please know. It’s a big scam. This is tough stuff in international trading economics you hardly hear talked about by our economists in Zambia or folks at Africa Confidential because our own local experts who are supposed to declassify these hidden expensive procurement procedures are themselves early beneficiaries and are not supposed to pass silly questions to their World Bank employers even when prequalification conditions in supply contracts to Third World countries are silly. Our economists are appointed only to do only what they’re told on behalf of their pay masters at the World Bank, EU or whatever western so called AID organisation. Our local economists being the early corrupted beneficiaries of the bigger loan amounts that end up in western consultant’s bank accounts cannot ask questions, not even when local economists come to know something is wrong, they go ahead and do it as long as they’re paid their portions of the agreed evaluation amounts.
Western backed newsletters
To the extent we now have Western backed newsletters like Africa Confidential writing unbalanced warped stories on Zambia’s Chinese loans they hardly understand because folks at Africa Confidential are also aware they’ll not receive challenges from our local experts who like them benefit.
And you’re telling me I’m supposed to believe these people and whatever they tell us in Africa Confidential together with the so called country ratings agencies that are actually paid huge amounts in consultancy retainer fees for their ratings agency work on behalf of the same World Bank and IMF? Where is the transparency in all this economic rating rubbish?
Educated Zambians are being spooked and taken on a very big foolishmans ride by Western colonial economic imperialism.
But another fundamental arithmetic crime in the field of economics is going on in the way the CSO and so-called economic experts are treating Chinese investments in Zambia.
If, as these people say, Chinese loans may be as high as ±12billion, why hasn’t this shown up in increased 2017/2018 – Zambian GDP numbers to the extent the debt to GDP ratio was going to be much lower and this debt would not raise false alarm? You mean there is a different GDP calculation depending on where and how the investment funding comes into the economy? Why?
Just a thought,
(To be continued…)