MWL Secretary General stressed the need for unrestricted delivery of humanitarian aid to the Palestinians by opening all crossings
world9 hours ago
The International Monetary Fund (IMF) warned this week that sub-Saharan Africa needed to prepare for tough times ahead, saying that there was no guarantee the resilience shown so far to global economic crises will continue.
Major world economies are in recession, stung by a global credit squeeze, and growth is now slowing in developing countries that had at first appeared resilient to the downturn.
Abdoulie Janneh, head of the U.N.’s Economic Commission for Africa, said the current financial crisis would have an impact on investment, trade, remittances and tourism revenues.
Several African nations had also seen volatility in their stock markets and currencies, he told African Union (AU) foreign minsters meeting ahead of a Feb. 1-3 summit in Ethiopia.
“However, we should not panic, but use the current crisis as an opportunity to consolidate recent macroeconomic achievements and for putting measures in place to further diversify our economies,”
MWL Secretary General stressed the need for unrestricted delivery of humanitarian aid to the Palestinians by opening all crossings
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