Economic crisis: Janneh shares Africa's response with Asian, Pacific countries
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2009-04Author(s)/Corporate Author (s)
United Nations. Economic Commission for Africa.;Metadata
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UN Under Secretary-General and Executive Secretary of the Economic Commission for Africa (ECA), Mr. Abdoulie Janneh, has said that the current economic downturn could cost the African continent $251 billion in 2009 and $277 billion in 2010 in export earnings, despite earlier predictions that the continent would not be hard hit. In a paper presented at a high-level panel on the “Financial Crisis Impacts and Responses: An African Perspective” during the 65th session of the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), which was held in the United Nations Conference Centre (UNCC), Bangkok, Thailand, from 23-29 April 2009, Mr. Janneh said that those predictions had been proven wrong by the hard realities of the economic crisis. Now, it is clear that the “social effects of the crisis will be particularly hard felt in Africa because there are little or no mechanisms to cushion the effect on ordinary people such as unemployment benefits or social security arrangements,” Mr Janneh pointed out. Besides, the effects of the crisis have been manifested “in slowdown of growth, weakening currencies, declining stock market indices and sharply reduced commodity exports,” he explained.
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“United Nations. Economic Commission for Africa. (2009-04). Economic crisis: Janneh shares Africa's response with Asian, Pacific countries. Addis Ababa:. © UN. ECA,. https://hdl.handle.net/10855/32898”Collections
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