This system granted the rich world complete economic control over the poor world. The power nations swing within the IMF is a function of their gross domestic product: the richer they are, the more votes they can cast. The World Bank is run entirely by "donor" states. These two bodies, in other words, respond only to the nations in which they do not operate.
The consequences for national democracy are devastating. African voters can demand a change of government, but they cannot demand a change of policy. All the important decisions affecting the continent are made in Washington, and they always boil down to the neoliberal demolition of the state's capacity to care for its people. So when the African leaders announce that "Africa undertakes to respect the global standards of democracy", they are accepting a burden they cannot lift. Democracy in Africa is meaningless until its leaders are prepared to challenge the external control of their economies.
But far from denouncing the authors of their misfortunes, they appear only to embrace them. "Structural adjustment", the IMF policy which has forced countries to repay their debts instead of investing in healthcare and education, is now almost universally acknowledged as the nemesis of development in Africa. Nepad's fiercest criticism is that it "provided only a partial solution" to poverty.
The consequences for national democracy are devastating. African voters can demand a change of government, but they cannot demand a change of policy. All the important decisions affecting the continent are made in Washington, and they always boil down to the neoliberal demolition of the state's capacity to care for its people. So when the African leaders announce that "Africa undertakes to respect the global standards of democracy", they are accepting a burden they cannot lift. Democracy in Africa is meaningless until its leaders are prepared to challenge the external control of their economies.
But far from denouncing the authors of their misfortunes, they appear only to embrace them. "Structural adjustment", the IMF policy which has forced countries to repay their debts instead of investing in healthcare and education, is now almost universally acknowledged as the nemesis of development in Africa. Nepad's fiercest criticism is that it "provided only a partial solution" to poverty.