A Zambian economist has urged the African leaders scheduled to meet UK’s Prime Minister Gordon Brown ahead of next month’s G20 summit on the economic recession to highlight issues that will cushion the impact of economic meltdown on the African continent.
Dr. Francis Chigunta said African leaders should use this opportunity to push for an international regulatory framework that would support the economic growth and development of Africa.
Dr. Chigunta told ZANIS that the current international regulatory framework on economic growth was heavily stuck on the already developed countries thereby disadvantaging the developing world.
Dr. Chigunta said there was need for African leaders to ask the bilateral organizations such as the International Monetary Fund (IMF) and World Bank to be lenient on the conditions when giving financial assistance as they continue rendering support.
He said the leaders needed to see to it that the conditions that they would be given would not further burden the African Nations which were already affected by the crunch.
Dr. Chigunta also said it would not be fair for South Africa to be the country that would represent the entire continent at the April 2nd G20 summit to be held in UK.
Dr. Chigunta said South Africa’s economy was more developed hence the impact of the crunch was not as grave as it had been on other developing countries.
He said South Africa was not likely to fully represent all the African Nations but that there was need for the continent to be represented by a country with a developing economy and not an intermediate country.
According to British Broadcasting Corporation (BBC), Gordon Brown will meet African leaders to discuss their concerns on how their economies have been affected by the global downturn ahead of the G20 summit with South Africa being the only African country to attend the event.
ZANIS/MP/MKM/ENDS
No kidding!!!
I hope one can differentiate between the problems that were there before and after the crunch. Most leaders are throwing all their problems (including those of mismanagement) into the same pot of global economic turn-down. For most leaders in Africa it happens to be a welcomed situation. Some of the african leaders have never been in the position to tackle national issues, how then can they talk about the global issue? You can not fail to race with men and then aspire to race with hoses!! Shame
Jamaco, don’t forget that it was Gordon Brown’s ancestors that invaded our motherland and took all the wealth they could to biuld their great empire and only left reluctantly after we sacrificed our lives for the Liberation Struggle. Also don’t forget the millions of YOUR ancestors that were brutally shipped to the west as Human Cargo accross the Midddle Passage to slave on plantations in blood, sweat & tears! Now, the Jews have received (and continue to receive!) compensations for the Holocaust. Where is OURS?
What is good for the goose is definately good for the gander!
Imagine compensating the african americans under the condition that they return to their motherland. Fandango mudala wandi! So nomba ni Zeeeeeeeeeeeeee
So who should feel the shame?
China has expressed support for Russia’s proposal to hand the IMF the power to create a new supra-national global currency in response to the call for an alternative to the U.S. dollar as the world reserve currency.The Russian proposal stated that the IMF should take the lead in establishing a “superreserve currency accepted by the whole of the international community.”
Where are we heading to?God help us.Zambia should be out of this,othewise PREPARE FOR HARD TIMES AHEAD