allAfrica.com
27 March 2009
The last decade witnessed the dawn of hope on the African continent. We had achieved the fastest growth rates since independence. Our efforts to build institutions and strengthen governance were beginning to pay off.
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The entire world economic system is flawed. In the last couple of decades the financial markets have created non-existent wealth; "wealth" that exists only in figures and digital bytes. The giant financial and banking institutions have "grown" too big on bogus ponzi schemes that don't represent real wealth creation.
And of course once again Africa is caught up in this chicanery where they are thinking or thought the growth in their economies was for real. The reality is that most Africans' lives are worse off since the 80's when the over-liberalization of banking systems - where everybody and anybody went into banking, did investing and banking willy nilly - giving the false impression that wealth was being created.
Wealth creation should go back to industry - away from the banking crookery - that has brought the whole globe on its knees.
Industries - not banks, that fabricate phoney financial instruments - create REAL wealth.
The AU needs to form a unified economic/political block/system to survive the vagaries of international capital markets that are only always on the ready to open and fold tent at the hint of change of economic winds.
African has to deal with corruption and human rights violations; learn how to govern and work cooperatively with other African leaders before being allowed to join the G-anything. Addtionally, they have to learn how to manage vast natural resources, currently leaving their territories in exchange for bribes, and put price tags on those resources before asking for a seat in the G-something. Otherwise,these resources will stiil be leaving the continent free of charge or in exchange for bribes to the well connected elites.
allAfrica.com
27 March 2009
Africa is facing difficult times. The effects of the global economic recession and climate change have already begun to reverse the progress the continent has made over the last decade.
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This post was deleted because it contravenes AllAfrica's commenting guidelines.
This post was deleted because it contravenes AllAfrica's commenting guidelines.
This post was deleted because it contravenes AllAfrica's commenting guidelines.
This post was deleted because it contravenes AllAfrica's commenting guidelines.
Perhaps Mr. Annan could learn from a non-African - President Lula of Brazil who spoke more candidly on behalf of all the poorer people of our world, standing next to Gordon Brown this morning. Enough of this cap-in-hand pleading for more aid instead of fairer trade. Is that too much to ask for? For Mr. Lula’s comment, see: http://news.bbc.co.uk/2/hi/uk_news/politics/7964910.stm.
For the ordinary african in 'subsaharan Africa, live has never been easy even before the economic recession from the 'north' does he have a good road, good health care for his family, water and nutrition, free and quality education for his kids, good shelter instead of live in slums and secure future, who is thinking about him, what are the goals of leaders in sub-saharan africa anyway, where are they when countries like, Indonesia, Malasia, etc, where developing. He has not known any better so the recession means nothing to him, excepts the leaders who's windwall from the north will dry up as a result.
Kofi Annan, the guy who stood by and watched at his UN office in NEW YORK while 8,000 Rwandans a day were being butchered for a period of 100 days, does not give a damn thing about average Africans whose lives are not touched by the foreign donations he is begging for in this article.
The naked fact is, Mr Annan is thinking of himself and a few of his elite African friends who get paid by western interests they represent.
Sub-Saharan African has vast natural resources which could have been used to developing that portion of African had it not been for self serving boogie men like Kofi Annan and his buddies. This soft spoken smooth operator is a wolf in a sheep's clothing that Jesus warned the rest of the world about two thousand and nine years ago!.
It is more than half a century since Ghana became independence. Yet, Annanfeels that Sub-Saharan African countries like Ghana must still maintain beggars like him to panhandle on their behalf! WHY? Because Annan and his elite comrades are the direct beneficiaries of the natural resources coming form Sub-Saharan Africal! They now call these panhandlers "African Elders" to legitimize what they do to undermine African development in exchange for personal gratuities!
allAfrica.com
27 March 2009
A high-level panel of African leaders and development experts headed by former United Nations Secretary-General Kofi Annan issued a call Friday for reforms of global governance structures to help Africa weather the international financial crisis.
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allAfrica.com
27 March 2009
Although the current global economic crisis was triggered by the financial practices of industrialized nations, African leaders have important responsibilities to meet if they are to mitigate the effects of the crisis on the continent, a range of prominent African figures argue today.
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Africa Progress Panel (Geneva)
27 March 2009
There is little doubt that the current global financial crisis was triggered by the failure of regulatory authorities to arrest the systemic risk posed by the use of derivatives and other such innovations in the US subprime housing sector.
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Africa Progress Panel (Geneva)
27 March 2009
The impact of the global financial crisis has been largely muted in many African countries. That is thanks in no small part to the prudent management of these economies in recent years.
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Africa Progress Panel (Geneva)
27 March 2009
There is little doubt that the poor pay a disproportionately high price for every disruption of the international system.
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Africa Progress Panel (Geneva)
27 March 2009
No debate has animated policy makers and academics since the severity of the economic downturn became clear than the need for a new global standard to regulate the international finance system.
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Africa Progress Panel (Geneva)
27 March 2009
The global financial crisis has opened up an important opportunity for African Ministers of Finance and Central Bank Governors to push for more responsive and supportive multilateral institutions.
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Africa Progress Panel (Geneva)
27 March 2009
Africa is not watching from the sidelines as the global crisis unfolds.
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Africa Progress Panel (Geneva)
27 March 2009
The numbers are out and they make for painful reading: growth in Africa is likely to slow by nearly half in 2009 due to the spreading global financial crisis.
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Africa Progress Panel (Geneva)
27 March 2009
It is no exaggeration to say that Africa played no role in triggering the current crisis.
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Africa Progress Panel (Geneva)
27 March 2009
Africa has an opportunity, with a little creativity and foresight, to turn the current global economic slowdown into substantial reforms that could have lasting beneficial impact.
[ See Article ]
In addition to pushing for the membership of the AU of the G20, I think it is equally urgent to strive for strong representation of civil society in Africa at the summit, to shorten the time it takes for decisions to affect the poor on the continent.