jeffpickering12

the A53 at the G20

In Uncategorized on April 12, 2009 at 10:37 PM

How did the continent of 53 countries (Africa) fare at this year’s G20 summit?

Reuters Africa Blog asked the question and provided the concrete facts representing the promised economic plan for the world’s poorest countries.

 

Reuters quoted the G20 communique as saying, “Our global plan for recovery must have at its heart the needs and jobs of hard-working families, not just in developed countries but in emerging markets and the poorest countries of the world too,” located in paragraph 3.

The facts on what they promised are the following,

• Resources available to the IMF will be trebled to $750 billion.

•  There will be support for a new allocation of Special Drawing Rights of $250 billion – something that could help poor countries

• There will be support for $100 billion more lending by Multilateral Development Banks (those include the World Bank Group and the African Development Bank)

• There will be $250 billion support for trade finance.

• Use will be made of resources from IMF gold sales “for concessional finance for the poorest countries”.

• Global financial institutions will be strengthened and reformed, ensuring that emerging and developing economies, including the poorest, must have greater voice and representation.

My favorite section of this is the last promise, “ensuring that emerging and developing economies, including the poorest, must have greater voice and representation.”

The way to change the world is for you to change your world… meaning each of us need to be the change we want to see in the world. The reason America works is because people created this precious nation, took ownership and worked to continue the prosperity. The African 53 is no different. Africa’s economy will only be brought to it’s full potential when it’s own people bring it there.

So what’s our role? We need to come in to assist in giving our friends in Africa the opportunity to take charge of their own economy. We do not need to walk in strut our stuff and tell them what to do. We must align authority and responsibility by trusting leaders at the local level. Former President Bush remarks, in regards to PEPFAR, “If you disassociate authority and responsibility, you can’t have accountability.”

Those that are given much, much is expected. G20 are the richest 20 countries in the world, in other words, much is expected. We must come to Africa’s aid. We must come with innovative approaches that work. We must help but not control, Africa’s leaders are the only ones that can bring Africa to her full potential.

If the G20 money stays out of the hands of corruption and falls into those of responsible local African leaders, this could have a Prustice filled impact.

 

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