As Table 1 shows, repayments by African governments to the IMF surpassed new resources in the past two years, resulting in a net transfer from Africa to the IMF of more than $1 billion in 1997 and 1998. Meanwhile, despite increasing repayments to the IMF, total African debt continued to rise.

IMF Charges represent repayments of the interest on IMF loans.

Africa's health crisis is greatly related to the fact that it has been trapped in a cycle of dependency and underdevelopment by the international system. The role of the World Bank and IMF in this international system has been pivotal. Over the past two decades, the policy prescriptions of these institutions have provoked the social and economic crises facing African countries. They have denied Africa's people the right to health and deprived them of resources necessary to cope with the current health crisis and thus, need a shift towards prioritizing social development. However, World Bank resources to address HIV/AIDS and other needs still come as loans rather than grants. Most of these loans are of questionable legitimacy, based on the circumstances under which the debt was incurred and the purposes for which it was used. Nevertheless it is still insisted upon that the debts be repaid. Over the past two decades, African countries have spent more on debt repayments than t!

cellation of Africa's illegitimate external debt and an end to imposition of harmful structural adjustment conditions on African countries as a necessary prerequisite for constructive action in support of Africa's right to health and sustainable development and to address Africa's devastating health crisis. Any debt relief that is tied to structural adjustment imposed by the IMF could very well cause more economic harm than good to the recipients.

Table 1. IMF relationship with Sub Saharan Africa, 1991-1998 (in millions of US$)

Source: World Bank, Global Development Finance 1999, in Jubilee 2000 Coalition, "IMF takes $1billion in two years from Africa," April 1999.

1991 1992 1993 1994 1995 1996 1997 1998*

Some topics in this essay:
World Bank, Bank IMF, Adjustment Facility, Bank Africa, Franc CFA, world bank, IMF Charges, Adjustment Loans, health care, Africa IMF, structural adjustment, IMF Repurchases, Africa April, world bank imf, bank imf, imf world, imf world bank, adjustment programs, african countries, spending health, health crisis, spending health care, structural adjustment programs, government spending, increased government spending,