Daily News Online
 

Friday, 12 June 2009

News Bar

News: Tangible progress - Akashi ...        Political: Cabinet Decisions ...       Business: NDB Bank pledges Rs. 9 m to Moratuwa varsity ...        Sports: Sri Lankans target semi berth ...

Home

 | SHARE MARKET  | EXCHANGE RATE  | TRADING  | SUPPLEMENTS  | PICTURE GALLERY  | ARCHIVES | 

dailynews
 ONLINE


OTHER PUBLICATIONS


OTHER LINKS

Marriage Proposals
Classified
Government Gazette

Africa reforms in economic crisis

Egypt: Africa is reforming its economies and establishing regulatory state roles to confront the world economic crisis that has increased poverty in the region. The director of Economic Affairs of the African Union (AU), Rene N?(tm)Guettia Kouassi, assured that the continent is mobilizing its internal resources to achieve a lesser dependence on foreign aid in face of the current recession.

He pointed out that the purpose is for the State to intervene in regulation of the economy with budget policies.

Kouassi noted that the crisis has a negative impact on the economy and growth of the majority of the African countries due to a fall in demand of raw materials and reduction of exports.

For the economic director of AU the region should move to economic and political integration, although he acknowledged that there are still no programs to refurbish the economy and surpass the crisis in Africa.

Regarding this point he requested flexibility of conditions from the International Monetary Fund and provision of loans under better conditions for agriculture due to the importance of food for the population and to reduce poverty.

He also called on the G-20 regarding benefits for Africa through additional funds to reach 1.1 billion dollars from multilateral institutions promised by this bloc during its last summit in London, last April 2. He also demanded that developed nations fulfill their promise to finance, which he explained has not been done.

Cairo, Prensa Latina

EMAIL |   PRINTABLE VIEW | FEEDBACK

www.lanka.info
St. Michaels Laxury Apartments
www.defence.lk
Donate Now | defence.lk
www.apiwenuwenapi.co.uk
LANKAPUVATH - National News Agency of Sri Lanka
www.peaceinsrilanka.org
www.army.lk
www.news.lk

| News | Editorial | Business | Features | Political | Security | Sport | World | Letters | Obituaries |

Produced by Lake House Copyright 2009 The Associated Newspapers of Ceylon Ltd.

Comments and suggestions to : Web Editor