One casualty of colonialism in Africa did not surface until after the African countries declared their independence: self-sustainability. Although politically independent, African countries were not financially capable of taking on the demands of running a country, forcing them to ask for help in the form of military, money (loans), technology, and markets for trade. However, like many countries which find themselves in this type position, the countries of Africa have had a very difficult time shedding off their international dependence. Today, Africa pays more money every year in loan interest payments to the International Monetary Fund and the World Bank Group (IMF/WB) than it receives loans from them, often depriving the inhabitants of those countries from obtaining the necessities of life. This financial dependency allows the IMF/WB to impose Structural Adjustment Plans upon the African nations. These
One casualty of colonialism in Africa did not surface until after the African countries declared their independence: self-sustainability. Although politically independent, African countries were not financially capable of taking on the demands of running a country, forcing them to ask for help in the form of military, money (loans), technology, and markets for trade. However, like many countries which find themselves in this type position, the countries of Africa have had a very difficult time shedding off their international dependence. Today, Africa pays more money every year in loan interest payments to the International Monetary Fund and the World Bank Group (IMF/WB) than it receives loans from them, often depriving the inhabitants of those countries from obtaining the necessities of life. This financial dependency allows the IMF/WB to impose Structural Adjustment Plans upon the African nations. These