Wednesday, April 1, 2009

SAfrica's Motlanthe heads to G20


JOHANNESBURG (AFP) — South African President Kgalema Motlanthe left Tuesday for London to join the key G20 summit where Africa's sole representative will try to swing the focus onto developing economies.

"As they look at packages to salvage their own economies, G20 countries must be thinking about the economies of developing countries, particularly in Africa," Foreign Minister Nkosazana Dlamini-Zuma said in a statement.

Accompanied by a delegation including Finance Minister Trevor Manuel, Motlanthe will join world leaders at the summit which will examine ways to restore the world economy.

"As the only African country in the G20, South Africa has consistently stressed that a global response is required to mitigate the impact of the crisis and prevent its contagion to emerging markets and developing countries, in particular Africa," the minister said.

South Africa is the G20 member on the African continent, which has been hard hit by the loss of credit lines and investment from industrialised nations battling the crisis.

Commodity prices have also fallen sharply, directly impacting emerging markets which are heavily dependent on export mineral markets.

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