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Ratsiraka Moderates His Views Against IMF, World Bank

Panafrican News Agency (Dakar), 20 February 2001

Bamako, Mali - Malagasy President Didier Ratsiraka, known for his criticism of the two Bretton Woods institutions, at the Africa-IMF/World Bank Bamako summit Tuesday showed some moderation in his language with regard to the two financial bodies.

"I think that the IMF and the World Bank have helped us a lot," he told journalists as he left the closed meeting held between African leaders and the heads of the IMF and World Bank. On the arguments related to the negative impact of the Structural Adjustment Programmes imposed on the continent by the two institutions, Ratsiraka said he did approve of this.

"These institutions, however, do not encourage conflicts and corruption in Africa", he pointed out.

According to the Malagasy leader, Africans are mature enough to undertake frank discussions with the two institutions. He said he was pleased with the launching of the Initiative in favour of the Heavily Indebted Poor Countries by the IMF and World Bank in 1996.