Africa

There is a longer debate to be had about the successes and failures of IMF "reforms", including in the 1990s, to which I think my hon. Friend is referring. Anyone who follows these issues will know that a lot of experience has been gained from what happened in the 1990s. My hon. Friend the Member for City of York (Hugh Bayley) made the point that African countries are different from each other and should not be lumped together, and that applies to all the countries in which the IMF operates. One of the lessons of the 1990s is that a single transferable model is not necessarily appropriate in all circumstances. There needs to be proper flexibility.