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Dar-es-Salaam (Agenzia Fides) - “Although the global economic crisis began in the markets of countries with an advanced economy, it has also had negative consequences on the economies of the developing countries. This is why we affirm that such crisis requires a strong partnership among all the countries, rich and poor alike.” Thus, with a subtle yet clear accusation of rich countries and a strong appeal asking them to “continue efforts in supporting Africa, through aid, commerce, and technical assistance,” the International Conference on the impact of the world crisis in Africa, held in Dar-es-Salaam (Tanzania), came to an end. The event was held March 10-11 and was attended by African governors and ministers, along with the International Monetary Fund (IMF).
African economies are facing a difficult challenge, as the objectives that had been reached in past decades, a robust economic growth, a macro-economic stability, and a progress in reducing poverty in many African nations, are now at risk. Thus, the governors, ministers, and representatives from civil society on the continent, along with the leaders of the International Monetary Fun, gathered to discuss and promote a common action.
The final declaration reads: “We share the profound concern for the high cost in human lives that this crisis will bring, along with the potential threat to peace and stability,” of a society and economy that is so fragile.
The African governors and ministers, therefore, enumerated six areas of intervention for reinforcing the partnership between Africa and the IMF, and for best facing this crisis, which has already been an onslaught on the economic development of the entire continent. According to participants, there is above all a need to “increase IMF policy surveillance of all its members in a spirit of equality,” with clear reference to the varying importance given to controls and the fidelity to the macro-economic parameters of the members. It is no mere coincidence that the crisis has come about as a result of 'loose' control of financial systems in Western markets.
They call for an “expansion of opportunities and access to the instruments of IMF for poorer nations” and “consolidation of the process of reducing foreign debt, to give new opportunities and funding for African nations,” so that the results achieved may not be lost.
Another delicate and urgent exhortation is in the need to “accelerate IMF reforms to strengthen the voice of Africa on all its levels.” The voice of the poor deserves more attention, respect, and pressure within the decision-making and consultation areas of the organization. They also acknowledge that Africa needs “competence, experience, and technical assistance” from the IMF, in order to face the present challenges. They also ask that “the role of the IMF be strengthened, so as to exercise greater influence on public policies and private financing to support the needs of African infrastructures,” which are so in need.
The African continent is also committed to “continuing to favor policies to strengthen the economy, guaranteeing a 'good governance' and making decisive efforts to create a better situation and thus attract foreign investments.”
The African members once more asked the IMF to increase its support for Africa with greater financing and flexibility. There cannot be any decisive development or at least a stopping of the negative effects of the crisis in Africa without the support of the large international institutions to 'compensate' the fragile structures that have yet to be overcome or have been just recently overcome and are therefore still weak and insecure, especially in the sub-Saharan nations, except South Africa.
For the declarations to go beyond mere ink on paper, the African members and those of the IMF have decided to “evaluate every six months the 'status' of the final affirmations, as a group.” (MT) (Agenzia Fides 16/3/2009)
