Finance and economic planning ministers from Africa are demanding for a considerate review of all terms and conditions given them by the International Monetary Fund (IMF) when accessing lending facilities.
They made the call at the ongoing IMF/World Bank annual meetings in Washington DC in the United States of America.
According to the ministers, their request is in line with the changing dynamics of the continent.
A meeting held on Saturday, October 11, 2014 saw ministers from Guinea, Kenya, Sierra Leone and Chad agreeing among other things that it was about time Africa invested more in infrastructure and energy.
Minister of Finance and Budget in Chad, Bedoumra Kordje, in his submission opined that �Africa cannot continue to count on concessional loans; we need grants,� and added that �we can only grow if we get more grants. That�s the best way to finance inelastic growth of poor countries.�
The ministers noted that the IMF must begin to show a lot more flexibility in its policies and this must be reflected in its programmes with other African countries.
Ghana is in talks with IMF for a programme to help restore confidence in her economy.
Thus a delegation from the country is in the USA to discuss further the country�s bailout plans with the Bretton Wood Institution.
On the deadly Ebola Virus Disease (EVD,) the ministers feared the disease could further cripple the growth of most African economies considering how it has affected tourism in some countries.
Against this background, they urged the media to desist from being sensational with their reportage on the haemorrhagic fever.
The meeting has brought together several big shots from across Africa to discuss issues of global concern, including the world economic outlook, poverty eradication, economic development and aid effectiveness.
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