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Vol 50 No 8

Published 17th April 2009

The bust and after

Finance ministers and central bank governors are holding an African summit in Washington next week to map a way out of the crisis

As the international financial crisis intensified last year, some African governments thought they could avoid the worst by strengthening their trade and investment ties with Asia. Denial has turned to alarm, with officials predicting dire consequences from Africa’s massive commodity losses. On 22-23 April, before the spring meetings of the World Bank and International Monetary Fund, finance ministers from across Africa, brought together by the Commonwealth Secretariat and La Francophonie, are meeting in the United States to coordinate a joint response to the crisis and its effects on financial stability, health and education.

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