Is capitalism good for Africa if it comes with post-imperialist control and de-stabilizing policies, or should developed countries and associations like the IMF and World Bank simply let Africa choose its own path, policies, and governing bodies?`
I’m not sure that establishing capitalism and the free market in Africa would work to successfully improve conditions because they would need to accept international aid that ignores African cultural structures, environmental regulations, and create postcolonial imperialist structures. For example, IMF backed countries need to, “devalue currency to make exports cheaper, reduce deficits, eliminate subsidies, end import restrictions, privatize state-owned enterprises, and increase bank interest rates,” which destabilizes established governments in order to try to get trade deals with developed countries (p.87). There have been attempts to internally improve conditions in African countries, such as, Thomas Sankara rejecting international aid in favor of establishing his own systems, including extensive health and environmental policies, to improve the quality of life in Burkina Faso using socialist structures and ideology before his assassination in a coup. The new regime led by Blaise Compaoré reversed Sankara’s policies and accepted IMF assistance, which then led to a liberalized autocracy and stilted socio-economic improvements backed by the IMF and France, the country’s former colonizer. This raises the question: is capitalism good for Africa if it comes with post-imperialist control and de-stabilizing policies, or should developed countries and associations like the IMF and World Bank simply let Africa choose its own path, policies, and governing bodies?`
