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Vol 49 No 11

Published 23rd May 2008

A look on the bright side

Soaring food and fuel prices dominated the African Development Bank's Annual Meeting in Maputo on 14-15 May, in contrast to last year's optimistic, Asia-oriented summit in Shanghai. With oil at US$120 a barrel and the world credit crunch filtering through, the Meeting debated longer-term solutions for Africa's energy and agricultural shortfalls. Mozambique, the host country, is in the top five recipients of ADB funding. Its economy has grown at around 7% for the last five years; about 80% of its people are farmers but agriculture makes up just a quarter of gross domestic product.

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