IMF, World Bank not serving African interests: ActionAid

HUMANITARIAN organisation ActionAid has called for the overhaul of the International Monetary Fund (IMF) and World Bank institutions saying they do not serve African interests.

Zimbabwe is one of the countries in the Global South affected by huge debts from the IMF and the World Bank.

In an exclusive report published this week, ActionAid said colonial institutions such as the IMF and the World Bank had no place in the 21st century and unless they are overhauled, they should be abolished.

This story is for NewsDay subscribers.