THIS WEEK: Legislators ask World Bank, IMF for better terms of trade

Legislators ask World Bank, IMF for better terms of trade

Kampala, Uganda | THE INDEPENDENT | Members of parliament attending the 2018 Global Parliamentary Conference at the World Bank Headquarters in Washington DC have asked the International Monetary Fund (IMF) and the World Bank to always consider giving African countries better terms of trade.

This was after Budadiri West’s Nathan Nandala Mafabi complained that European countries access African raw materials cheaply but when they return the finished products, they are sold at very high prices something he termed as, ‘clear exploitation of Africans’.

At the Conference, panel sessions discussed issues of maximizing finance and development role of the private sector, economic stability, conflict and violence, good governance and the role of legislators.

The annual meeting on the international development calendar is the only parliamentary conference where nearly 200 legislators from around the world directly engage with World Bank Group President and IMF Managing Director.