Afro FM 105.3: The United Nations Under Secretary General has warned the AU member states of some serious financial threats in 2012.

The United Nations Under Secretary General has warned the AU member states of
some serious financial threats in 2012.
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Henok  on 27/01/2012 08:19:00
 
Delivering speech at the 20th Ordinary Session of the AU Executive Council, the
Under Secretary General Abdoulie Janneh, however, mentioned that the economic
prospects of the continent would seem encouraging in the fiscal year.
Strengthening the trade relation among African countries is the major talking
point in this year’s 18th African Union Summit. Officials representing AU
member states and organizations repeatedly mentioned the Intra-Africa trade
issue in their speeches. This is due to the current weak trade relation among
African countries. The Information I gathered from various publications of the
AU show that the trade relation between Africa and the rest of the continents is
much bigger that within Africa. This opens the way for Africa to feel the
effects of the euro zone crisis. In his speech he delivered at the 20th Ordinary
Session of the AU Executive Council, The United Nations Under Secretary General
Abdoulie Janneh warned the AU member states of the serious financial risks in
2012. In this regard,  Mr.  Janneh pointed out that the crisis in the euro zone
will have a negative effect in the continent’s financial transactions. He also
mentioned the specific impacts the African continent suffered due to the euro
zone crisis.  The Under Secretary General urged the member states to be vigilant
given the current global economic uncertainty. The best possible outcome for all
would be a speedy resolution of the euro zone crisis and the sustained growth in
the United States, he said. Political developments and uprisings in North
African region were also included in his speech as one of the reasons which
impact Africa’s growth prospects. Mr. Abdoulie Janneh, who is also the
Executive Secretary of the Economic Commission for Africa outlined the quick
articulation and implementation of well thought out growth strategies as short
term solution. The AU and ECA are working jointly to help Africa fulfill its
potential as a new source of global economic growth, he said, (AFRO FM)