Abstract

No one would be happier than I if I am proved wrong on this point, but I believe that the excellent relationship between the Fund and its African members in the early years of their membership in that organization unfortunately no longer exists. There is a feeling that neither side understands the difficulties of the other. There is no meeting of minds either on the diagnosis of the present ills of Africa or on the remedies prescribed for their cure. Such a state of affairs should not be allowed to persist, for it is certainly neither in the interest of Africa nor in the interest of the Fund. This situation makes it difficult both for African countries to make progress and for the Fund to achieve its fundamental objectives of contributing to the promotion and maintenance of high levels of employment and real income. It is crucially important to clear up this situation so that the earlier harmonious relationship between the Fund and its African members will be restored, and both sides will be able to make progress in a spirit of mutual understanding and cooperation.