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Vol 51 No 12

Published 11th June 2010

Where the money went

Much more money leaves Africa through Western banks than the West gives Africa as aid. Who gets the profits?

As the Group of Twenty (G-20) countries gets ready to meet in Canada for its economic summit on 26-27 June, African governments are preparing their pitch. This year, it may be different. Firstly, South Africa now represents Africa among the top 20. Secondly, Africa’s economies have been far less affected by the international financial storms than the big Western nations. Meanwhile, the debate about aid and trade is changing fast.

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