Africa worries it still footnote despite G20 pledge

Sun Sep 27, 2009 8:36am GMT
 

By Harro ten Wolde

THE HAGUE, Netherlands (Reuters) - Making the G20 the main forum for economic cooperation is a step in the right direction, but low-income nations still do not have enough say, the head of Africa's main development bank said on Saturday.

African Development Bank president Donald Kaberuka, speaking on the periphery of a conference, said despite the decision at the G20 summit in Pittsburgh, low-income countries may still be sidelined.

"One of the most important successes of Pittsburgh is that that the G20 is the most qualified forum to deal with global issues," Kaberuka said.

"The way it is now structured...the low-income countries' priorities are still an appendix, a footnote," he added.

The AfDB president had made a plea to the G20 leaders earlier this week not to remove the stimulus packages too soon as the green shoots of recovery were very short.

Many African economies have boomed in the past decade as economic reforms combined with rising demand for natural resources created ideal conditions for growth.

The global financial crisis hit the continent hard, however, once demand for commodities and energy started to dry up.

Annual economic growth is expected to be in the 2.8-percent range, less than half the rate forecast before the crisis began.   Continued...

<p>African Development Bank President Donald Kaberuka speaks at his news conference during the spring IMF-World Bank meeting at the IMF headquarters in Washington April 26, 2009. REUTERS/Yuri Gripas (UNITED STATES POLITICS BUSINESS HEADSHOT)</p>

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