WASHINGTON, DC, 16 July 2021 – Civil and criminal charges will be pressed against international financial institutions funding genocide in Southern Cameroons aka Ambazonia.

The Ambazonia Coalition team (ACT) aka Team Ambazonia, whose member liberation movements and self-defense units are signatories to the Swiss-led Process of “negotiations without preconditions”, made the promise Thursday in a statement.

Cameroon and Ambazonia - Source GeoCurrents

Cameroon and Ambazonia – Source GeoCurrents

A View of Downtown Yaounde, Capital of the Bottomless Pit - Photo Jubilee Debt Campaign

A View of Downtown Yaounde, Capital of the Bottomless Pit – Photo Jubilee Debt Campaign

Team Ambazonia calls notably on the International Monetary Fund (IMF), the World Bank Group (WBG) and the African Development Bank (AfDB) “to suspend all funding to French-speaking Cameroun (independent on 1st January 1960) supposedly for projects implemented in Southern Cameroons (independent on 1st October 1961)”.

The statement describes lending from these three institutions as “a steady flow of loans for genocide”.

ACT accuses the three institutions of funding “the genocide, war crimes, crimes against humanity and policies bordering on apartheid by French-speaking Cameroon on the English-speaking people of Southern Cameroons aka Ambazonia”.

African Development Bank Head Offices in Abidjan - Photo AfDB

African Development Bank Head Offices in Abidjan – Photo AfDB

IMF Head Offices in Washington DC - Photo Human Rights Watch

IMF Head Offices in Washington DC – Photo Human Rights Watch

World Bank Head Offices in Washington, DC - Photo Daniel Slim, AFP via Getty Images

World Bank Head Offices in Washington, DC – Photo Daniel Slim, AFP

The statement blames the three institutions for making “lavish loans, credits and grants… over the last 60 years to Cameroon.

The generous loans, credits and grants “have afforded the fiscal space the demonic regime of Paul Biya needs to devote its own resources to the pursuit of war, war crimes, crimes against humanity, genocide, and policies bordering on apartheid in Southern Cameroons”, the statement notes.

Team Ambazonia says the three “have achieved only [only] one goal”. They have funded Cameroon’s “policies of national integration and assimilation”, described as “euphemisms for the economic, political, financial and cultural genocide of English-speaking Southern Cameroonians”.

The funding, the statement noted, “has furthered the annexation, recolonization and under-development of Southern Cameroons”.

ACT reminded the three that the “sovereign people of Southern Cameroons are not liable for loans and credits” and will not repay them.

No Transparency on IMF Funding of COVID-19 Projects - Source Transparency International and HRW

No Transparency on IMF Funding of COVID-19 – Source Transparency International and HRW

“Unless,” the statement added “independent audits demonstrate that such funding was effectively and efficiently invested in Southern Cameroons or for the benefit of Ambazonians”.

The statement calls on the three to implement “their own policy” allowing them “to do business with sub-sovereign entities” citing the example of loans, credits and grants given to entities like the Government of Zanzibar in Tanzania.

Funding from the three institutions have allowed the putting in place of “initiatives that undermine the Anglo-Saxon heritage of Southern Cameroonians, including its Common Law and Education System”, the statement added.

Team Ambazonia cites the IMF’s lavish $382 million loan to Cameroon as well as plans currently being considered within the IMF to dump “more money down the same bottomless pit under the pretext of combating the new coronavirus”.

Entrance of the Dilapidated Yaounde Main Hospital - Photo Cameroon Tribune

Entrance of the Dilapidated Yaounde Main Hospital which Could Have Used some of the Swindled Funding – Photo Cameroon Tribune

The case of the Ring Road, which Cameroon’s long-serving president, Paul Biya, promised to build since 1983 and for whose construction the AfDB has disbursed several loans without getting the job done.

“Along with the other two, the WBG hands are dripping with the blood of Southern Cameroonians,” the statement said.

Team Ambazonia blamed these financial institutions for claiming to promote good governance yet aiding and abetting “the dismantling of institutions of self-government in Southern Cameroons”.

Financing from the three enabled Cameroon to destroy Southern Cameroons’ “economic and financial institutions”.

The statement cites the shutting down of the marketing board for cash crops, the leading bank of Southern Cameroons, and its “fully functional airports, airstrips, seaports, railway lines, tea and rice plantations, post office service and top-notch state-owned hotels”.

Team Ambazonia calls on the three to “fulfill their fiduciary responsibility” by “investigating credible allegations of corruption, mismanagement, and swindling”.

It also called on the three to demand “transparency and accountability in the management of all funding”.

Cameroon is Buried in Debt - Photo Bretton Woods Project

Cameroon is Buried in Debt – Photo Bretton Woods Project

The WBG, IMF and AfDB are called upon to recognize the right of the people of Southern Cameroons “to have the final say in their development and governance”.

After Cameroon significantly reduced its public debt in 2006 thanks to the Heavily Indebted Poor Countries Initiative (HIPC), the country’s stock of public debt rose from 12 percent of GDP in 2007 to 45.8 percent of GDP (about two-third external and one-third domestic) by September 2020.

China holds 61.3 percent of Cameroon’s bilateral debt, or 27.4 percent of its total debt. The African Development Bank held 30.1 percent of the multilateral debt, or 12.3 percent of its external debt. in 2019.

Cameroon’s public debt was a whopping 17.61 billion dollars in 2019.

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