Global News Journal

Beyond the World news headlines

from Africa News blog:

Should developing world have more say in crisis talks?

When world leaders meet in Washington to tackle the global financial crisis, Africa will be represented only by South Africa.


African officials meeting in Tunis this week to discuss the impact of the crisis argued that the continent needed better representation, given the effects that the turmoil is having in Africa as well as the continent’s growing financial importance. The complaint could apply equally to other developing countries.


The global crisis has come just as many African economies were turning a corner, buoyed by improvements in governance, technological change, debt relief, higher prices for their exports as well as inflows of funds from Asia and from Western investors seeking higher yields.


Many African countries have spent decades gearing economic policies to attract more private capital and dispel a reputation as unreliable investment destinations.