Ibrahim Traore: We refuse to be financial slaves Africa Doesn't need the World Bank,IMF, Europe or America to survive

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In a significant statement underscoring Africa's potential for economic independence, President Ibrahim Traore of Burkina Faso recently declared that Africa does not need the financial support of institutions like the IMF, World Bank, or Western powers to build its economy. 

This stance, announced during an address in Ouagadougou, reflects Traore's vision for an Africa free from what he describes as "financial slavery," driven instead by self-sufficiency and local resources.

Traore's decision comes amid offers of support from the IMF, specifically an Extended Credit Facility aimed at helping Burkina Faso stabilize its economy and address poverty. 

However, Traore and his administration declined, citing a desire to avoid the dependency and external influence that often accompany international financial aid.

This reflects a wider sentiment growing among some African leaders, who argue that reliance on foreign aid perpetuates cycles of debt and dependency, limiting national sovereignty. Traore emphasized that Africa has abundant natural and human resources to generate sustainable growth and should focus on maximizing its potential rather than depending on foreign intervention.

What do you make of the above assertion?

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