Idris Ahmed
13 July 2009
Abuja — Abuja will host a meeting of the Committee of Ten African Finance Ministers and Central and Regional Bank Governors (C10) tomorrow to discuss the impact of global economic and financial crisis on African economies and way forward.
The meeting will make policy recommendations for the G20 process, discuss trade issues, the global financial crisis and related matters, Deborah Chinwe Okafor, the Special Assistant (Communication) to Minister of Finance Mansur Muhtar said in a statement. She said that the meeting will provide an opportunity to review the impact of the crisis and emerging regional responses.
According to her satement, the Minister said: "African countries are still grappling with the fallout of the global financial crisis resulting in job losses, falling commodity prices, drying of trade and capital flows, as well as difficulties in accessing the international capital market. "Though African countries are doing their best to cope with the effects of the downturn, the resources and policy space were severely limited.
"This is an opportune moment for the C10 to continue to engender policy initiatives that will propel African countries on the of recovery path, as well as make a strong case for increased concessional finance that will support economic recovery on the continent, ahead of the G-20 Meeting coming up in Pittsburgh in September, 2009".
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