Global Crisis Forces African Governments to Turn to IMF |
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May 31,2009
Years after graduating from dependence on the International Monetary Fund, many African countries are having to call upon the fund for assistance to cope with a global economic crisis that is not their fault.
Years after graduating from dependence on the International Monetary Fund, many African countries are having to call upon the fund for assistance to cope with a global economic crisis that is not their fault.
The international economic turmoil has been slower to reach Africa because of its limited financial links to the outside world.
But now, African economies are struggling against collapsing demand for their products, volatile commodity prices and falling foreign investment.
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