Thursday, March 16, 2006

Africa needs more aid

International Monetary Fund chief Rodrigo de Rato says rich countries should provide more aid to Africa and the world's least developed continent must tackle graft to attract foreign investment. Rato, who is in Lusaka to meet with a group of African finance ministers and representatives of western lenders, commends recent large-scale debt relief for Africa but says it is not enough to end the continent's economic woes. Rato says debt relief is an important step but it is not enough. He says there is need for more aid that is predictable and carries minimum pre-requisites. Rato calls on developed countries to fulfill their commitments.

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