In 1970, African countries had a total debt of $ 11 billion. 30 years later, thanks to the wonderful efforts of the World Bank and IMF to reduce poverty that debt has risen to $ 295 billion of which 153 billion are due to these two imperialistic institutions led by the USA and Europe.
The most impressive part of this debt scam is that Africa has already paid more than $ 200 billion in interest but still owes more than $ 300 billion.
Zimbabwe for example pays 50,000 dollars (25 million FCFA) per hour in interest to the World Bank alone and yet it has far less debts than countries like Kenya, Angola and Nigeria.
At the same time, more than $ 700 billion of capital flight have been recorded on the continent since 1970.
In 2005, the very nice guys of the G8 agreed to cancel $ 40 billion of Africa' debt and we are supposed to kneel down and thank them for their extreme kindness.