World Bank

A brand new World Bank report, The Changing Wealth of Nations 2018, offers evidence of how much poorer Africa is becoming thanks to rampant minerals, oil and gas extraction.

Yet World Bank policies and practices remain oriented to enforcing foreign loan repayments and transnational corporate (TNC) profiteering — thus maintaining the looting.


Farmers till soil in Uganda, which has borrowed over $2 billion from the World Bank to date.

Lending further support to the United Nations' characterisation of the World Bank as a “human rights-free zone”, the notorious lender approved new policies on August 4 that have been widely condemned by rights advocates for endangering human rights and the environment.

In the past few years, private investors backed by corporate interests such as global banks, financial firms, hedge funds and food giants have bought a huge amount of farmland across the global South.

The latest World Bank Global Monitoring Report boasted that only 9.6% of the world's population — 702 million people — are forecast to be living in extreme poverty in 2015, 200 million fewer than in 2012. And this even with the WB now raising its official poverty line from the 2008 US$1.25 a day level to US$1.90.

WB president Jim Yong Kim declared that the world has a good chance of ending extreme poverty by 2030.

The United Nations Climate Change Conference will take place in Paris between November 30 and December 11. By the time it starts, 2015 is almost certain to have beaten last year as the warmest year ever.

This August has now been confirmed as the hottest August since records began in 1880. Other months this year that broke records were February, March, May, June and July.

The United Nations General Assembly met after World War II in 1948 and committed to 30 articles on human rights. The Universal Declaration of Human Rights (UDHR) has been signed by most nations and serves in many cases as a legally binding document on human rights. Article 25 in the UDHR says: “Everyone has the right to a standard of living adequate for the health and well-being of himself and of his family, including food, clothing, housing, and medical care.”

For five centuries, Africa has suffered at the hands of the West. Starting with the slave trade, through the colonial era, to today’s neoliberal global economy, the development of industrial capitalism in the West has come at a terrible price paid by Africans.

Food riots in Mozambique early this month and looming mass starvation in Niger after floods that were preceded by years of drought both reflect the ongoing economic exploitation.

However, they also reflect another creation of the industrialised West adversely affecting Africa: climate change.

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