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Vol 44 No 6

Published 21st March 2003

The new American way

Africa's hopes of fairer trade, debt relief and more help to tackle the AIDS pandemic are being thwarted by deepening divisions between rich countries over the Iraq war. Growing animosity between the United States-United Kingdom axis and the Franco-German axis may stymie cooperation at a series of summits due over the next few months. The first meeting - of the Group of Eight Finance Ministers and central bank governors in Washington in April was to agree on some reflationary measures and to shore up the tumbling US dollar. Success will be critical to African economies, most of whose exports are denominated in US dollars but whose imports are mainly bought from Europe or Asia.

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