#africanews #ibrahimtraore #brics For decades, the West has dominated the financial system of the world, dictating how money flows through its numerous financial institutions such as the IMF. This has made the economies of African countries referred to as Third World countries, largely dependent on the whims of these institutions. However, just like how BRICS is attempting to change this decades-long system, Burkina Faso under the leadership of President Traore has also taken the challenge. No longer willing to allow its economy to depend on the regulations of Western financial institutions, Traore recently launched a revolutionary financial platform, called Arzeka. This platform has the potential to completely revolutionize the Burkinabe economy. But what exactly is Arzeka and how can it revolutionize Burkina Faso? Let's find out.
Professor Lumumba once said something striking about the IMF and World Bank, two of the most strategic Western financial institutions. He said “The IMF and World Bank are economic slavers. What they are designed to do is to ensure that we are in a perpetual state of debt. You can never get out of IMF and Bretton Woods Institutions generally because they want to ensure that they control your economy. And when they control your economy, they control your politics. And when they control your politics, they control you. And when they control you, they bring in military bases. And, when they bring in military bases, they determine who governs you because if you don't play ball, they are going to instigate the armies to overthrow you.
What we must do as a continent is to use our institutions for the purpose of financing our affairs. The African Development Bank was going to be such an engine. But you know that it has 88 shareholders, of which the second-largest is the United States. Japan, France, and the UK are also part of the shareholders. So, they have seized, captured, and paralyzed the African Development Bank”.
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