Strengthening the African Financial Architecture: Why African Multilateral Financial Institutions Should have the same Preferred Creditor Status as MDBs
In context, the African financial architecture and AMFIs are Africa’s response to the contemporary global financial architecture with privileged hierarchies that have historical roots in the post-colonial order of the post-Second World War era. Likewise, the claim that the IMF offers concessional loans misses the point of the historical and structural privilege that they enjoy. As such, an ahistorical approach to assessing the PCS status and treatment of AMFIs creates a presumed sense of superiority in comparison to other MDBs. Further, such an approach deepens the privilege and the structural and inequity issues in the current international financial architecture.