By Abayomi Azikiwe
Editor, Pan-African News Wire
Tuesday August 28, 2018
https://panafricannews.blogspot.com/
“…Western financial publications cite the nine percent annual growth rate as the largest in the West Africa region. Nonetheless, this activity derives from foreign direct investment fostered by transnational corporations and banks on terms favorable to imperialism. Such an approach to development is not sustainable due to the dependent character of the Ivorian national economy.
The instability inherent is such a development agenda has been revealed over the last four years with the plunge in energy, agricultural and mineral prices of these commodities on the western capitalist dominated global markets. This decline in oil and natural gas prices was engineered by the U.S. under the Obama administration where the overproduction of these resources cut export earnings to emerging economies precipitously.
Many of these same states have been thrown into recession and uncertainty. Currency values consequently are lowered with the concomitant unemployment and poverty soon to follow.
The current situation calls for the resumption of dialogue and negotiations across the political spectrum in Ivory Coast. Moreover, the release of former President Gbagbo and the others held in the Netherlands by the ICC should be a focus of the PFI and other parties as a means to enhance national unity and the realization of genuine economic development and territorial sovereignty.”
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