Africa: Global Financial Crisis - Africa to Lose $578 Billion in Exports Earnings

24 March 2009
analysis

Lagos — African economies would suffer about $578 billion lose in export earnings in the next two years due to the on going global economic crisis.This is part of the observations of the Committee of African Finance Ministers and Central Bank Governors established to monitor the impact of the crisis on African countries

It would be recalled On 12 November 2008, the Heads of the African Development Bank, the African Union and the United Nations Economic Commission for Africa convened a meeting of African Ministers of Finance and Governors of Central Banks in Tunis, Tunisia, to discuss Africa in the face of the global financial and economic crisis. The meeting created a Committee of Ten to take stock of the impact of the crisis on Africa and provide appropriate advice to African Heads of State.

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