States incur heavy debts with traders, great masters of the globalization of commodity markets. According to the IMF, prepayments of raw materials have brought Congo and Chad and other African countries to the brink of precipice.

Commodity trading seems to have a bright future ahead of it as the practice continues to expand its tentacles. The IMF's denunciation of these deals that are very profitable for traders – with interest rates between 8 and 10%, according to specialists – has created a debate on the continent.

Many sovereigntist observers do not understand that their states incur heavy debts with traders who impose high interest rates.

The principle of these deals is simple: it is a loan granted by a trader, which is repaid "in kind" by cargoes of oil or minerals, drawn from the future production of the contractor, usually a State or the national extractive company. It is the trader – and not the borrower – who structures the credit for the operation, taking advantage of his good relations with the bankers of Geneva, London, Paris or New York, where his reputation is well established.

It is crucial that national states and extractive companies enlist the right skills before signing agreements with traders.