The economic and currency quarrels of the big powers overshadowed President Lee’s efforts to commit the G-20 to stronger development policies
African countries, like most states at the Group of 20 summit in Seoul on 12-13 November, saw their core concerns about growing protectionism and investment flows overshadowed by the stand-off between China and the United States on trade imbalances and relative valuations of the US dollar and China’s renminbi. Given the growing economic ties with South Korea, African leaders had high hopes that President
Lee Myung-bak’s pledge to make development issues the centre of G-20 concerns would mark a shift in international policy. The President has argued for a reorientation of aid and strategy. South African President
Jacob Zuma, Malawi’s President
Bingu wa Mutharika (Chairman of the African Union) and Ethiopia’s Prime Minister
Meles Zenawi (New Programme for African Development Chairman) led Africa’s delegation to the summit.
The 12-13 November Group of 20 Summit in Seoul afforded a great
opportunity for South Korea to boost its Africa diplomacy. This is
based on a modest aid budget, multibillion doll...
Kinshasa may have to rethink its deals with China if it wants debt
write-offs from Western creditors
European powers are blocking billions of dollars of debt relief to President Joseph Kabila’s government until it agrees to revise some of its trade and financing deals with China. ...
