The United States has been a major player in global economics and politics for a long time, using its power to shape the world in ways that often benefit itself. While its actions are often described as helpful—like promoting democracy, free markets, and development—the truth is much more complicated and often darker. Behind the scenes, the U.S. has used secret economic strategies and its influence over international organizations to control other countries and maintain its power. Two of the most harmful tools in this system are the use of “economic hitmen” and the manipulation of groups like the International Monetary Fund (IMF). These tools have been especially damaging for African nations, keeping them trapped in cycles of poverty and dependency while blocking their chances for real progress.

What Are Economic Hitmen?

The term “economic hitman” was made famous by John Perkins in his book *Confessions of an Economic Hitman*. These are highly skilled professionals—like economists, financiers, and consultants—who work for powerful corporations and governments. Their job is to convince leaders in developing countries to take out huge loans for big projects, like building roads or power plants. These projects are often unnecessary, overpriced, or designed to benefit foreign companies rather than the local people.

When these countries can’t repay their debts, they are forced to agree to U.S. demands. This might mean giving access to natural resources, supporting U.S. political goals, or selling off public services to private companies. If a leader refuses, the U.S. might use more aggressive tactics, like supporting coups or military interventions. This cycle of debt and control keeps countries dependent on the U.S. and unable to build their own paths to success.

The IMF: A Tool for Control

The International Monetary Fund (IMF) was created to help stabilize the global economy and support struggling countries. But in reality, it has often been used as a tool for economic control. African countries, in particular, have suffered the most from its policies. When nations face financial problems, the IMF offers loans—but these come with strict conditions called Structural Adjustment Programs (SAPs). These conditions usually include cutting public spending, privatizing services, and opening markets to foreign competition.

While these policies are sold as necessary reforms, they often make things worse. Cutting public spending leads to less funding for healthcare, education, and other important services, making poverty and inequality worse. Privatization means selling off national assets to foreign companies, which takes wealth out of the country. Opening markets to foreign competition can destroy local businesses, leaving countries even more dependent on outside help.

For African nations, the results have been devastating. Countries like Ghana, Zambia, and Nigeria, which are rich in natural resources, have seen their economies struggle under IMF programs. Instead of helping these countries grow, these policies have deepened poverty, increased corruption, and widened the gap between the rich and the poor. The IMF’s approach doesn’t consider the unique needs of African nations, putting the interests of wealthy countries first.

Case Studies

• Congo (DRC): The DRC, rich in minerals like cobalt and coltan, has been a target of economic exploitation for decades. Western corporations, often backed by their governments, have profited from the country’s resources while its people remain impoverished.
• Ghana: In the 1960s, Ghana’s first president, Kwame Nkrumah, was overthrown in a coup shortly after rejecting IMF-imposed policies. Critics argue that his removal was orchestrated to ensure compliance with Western economic interests.
• Libya: Under Muammar Gaddafi, Libya pursued an independent economic path, including creating a gold-backed currency for Africa. Following Gaddafi’s overthrow in 2011, the country descended into chaos, and its resources were opened to foreign exploitation.

Africa’s Struggle: A Continent Held Back

Africa is a continent with huge potential. It has vast natural resources, a young and growing population, and a rich cultural history. Yet, it remains the poorest continent in the world, with many countries stuck in cycles of debt and underdevelopment. The role of the U.S. and the IMF in keeping Africa in this position is significant.

For example, in the 1980s, Ghana followed IMF-mandated reforms, including privatizing public services and cutting subsidies on basic goods. These measures were supposed to help the economy grow, but instead, they led to job losses, higher prices, and social unrest. Decades later, Ghana is still deeply in debt, with much of its wealth going to pay back foreign loans.

In Zambia, IMF-imposed cuts to public spending have hurt essential services and made poverty worse. Even though Zambia is one of the world’s largest producers of copper, its people see little benefit from this wealth. Instead, foreign companies profit while local communities remain poor.

A Way Forward: Breaking Free from Dependency

The use of economic hitmen and the IMF’s harmful policies don’t have to continue. They are part of a global system designed to keep power and wealth in the hands of a few. To break free, African nations need to take different approaches to development. This includes:

1. Avoiding Predatory Loans: Countries should resist the temptation of easy money and carefully consider the long-term effects of foreign loans. Good governance is key to making sure borrowed money is used for real development.

2. Working Together: African nations can use regional groups like the African Union to negotiate better deals with international organizations and rely less on foreign powers.

3. Supporting Local Businesses: By focusing on local industries, African nations can create jobs, reduce imports, and build stronger economies.

4. Challenging the IMF: The global community should push for changes within the IMF to make it fairer and more responsive to the needs of developing countries. New financial institutions, like the New Development Bank created by the BRICS nations, offer better alternatives.

5. Taking Control of Resources: Countries need to reclaim control over their resources and economic policies, making sure the wealth they generate benefits their own people.

Conclusion

Economic hitmen and the IMF’s harmful policies are not just tools for managing economies—they are tools for control, designed to keep the powerful in charge while the rest of the world struggles. For African nations, the path to a better future means breaking free from this system of dependency and taking control of their own economies. Only then can they unlock their full potential and build a future based on fairness, equality, and true independence. The world needs to face the consequences of these practices and work toward a more just and equal global system.