New chiefs now, new policies later

For Africa, the Annual Meetings of the World Bank and the International Monetary Fund seem to resemble the shareholders’ meeting of a smallish public company bravely struggling back from the brink of insolvency. As each year’s corporate results get better and better, the company’s directors – in this case senior officials of the IMF and the Bank – boldly make increasingly optimistic predictions about the company’s earning potential for the next year.

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