MARKET RESEARCHER, BIZ CONSULTANT CHALLENGES FMI BOSS

An international market researcher, freelance business consultant and analyst is challenging the IMF boss of what she projected as growth in the CEMAC region. Callistus Fonjong picks holes with  the declarations of Mrs Christine Lagarde who did not mention corruption as a veritable stumbling block to economic growth and development. His response came following a visit of the MD for the International Monetary Fund, FMI to Cameroon.

Below is a full letter to Mrs Lagarde…

Dear Mrs Lagarde. I have gone through your speech. There is clear indication from your speech that African policymakers lack economic development knowledge. Actually, you are right. You sounded as someone who understands that he/she is addressing a crowd of desperate, helpless, confused and ignorant people who are ready to accept any proposal you make. Your proposals mostly will be tired up to IMF gains.

Callistus Fonjong: Corruption is Killing Africa

While you came up with some apparently good proposals, most of your suggestions were shallow. You refused totally to mention embezzlement, bribery, misappropriation, corruption, etc as impediments to growth in the CEMAC region. 

If Boko Haram could be mentioned and considered as a factor of economic development impediment in the CEMAC region, what stopped you from mentioning the other factors (like corruption) I just named?

As a market researcher, business analyst and consult, I find your speech lacking of vital points to be considered by the Africans.

The CEMAC policymakers should get an independent consultant or a third party verifier if they actually mean business. And talking of being serious, these Africans are not serious because they all work for their French Master against their own very African citizens.

By Callistus Fonjong

POST SCRIPT:

When Mrs Christine Lagarde met with Finance Ministers of the CEMAC zone, she advised that tax exoneration should be avoided if the respective governments have to generate income. 

Mrs Lagarde: FMI Boss

It is common knowledge that huge chunk of money is lost when people import goods and use their ‘connections’ to have them cleared from ports without them paying much needed taxes. 

Mrs Lagarde also said there was need for the governments to focus on non-petroleum revenue.

She urges the strengthening of sub regional integration and for the business environment to be improved.