By David Himbara
Kagame, the All-Powerful King Addicted to Debt: Can the International Monetary Fund Restrain him from Accumulating More Debt? General Paul Kagame just plunged Rwanda into a new debt of US$620 million. This pushes Rwanda’s indebtedness past the US$7 billion mark. The only body that can retrain the Rwandan strongman from accumulating more debt is the International Monetary Fund (IMF).
But there is a limit to how the IMF can retrain him. Rwanda’s dead economy has no other means of raising money to pay off older debts – so the regime must go into debt to settle debt. The IMF can’t prevent this.
There can be no question that the IMF is the only organization in the world that…
