IMF to Hold Rich Nations to Africa Pledges

The International Monetary Fund (IMF) says it will act to ensure developed countries keep financial pledges to Africa as the global downturn deepens, even though the continent is likely to avoid a deep recession.

IMF managing director, Dominique Strauss-Kahn, points out that the institution is reforming its policies to give poor countries better access to credit, and more influence over its decisions.

“I think the bottom line is clear, we need to act and we need to act now — it’s time to keep promises. ... The period where the IMF was mostly concerned about fiscal deficits, and thought that one size fits all, is now behind us. The world has changed,” argues Strauss-Khahn.

To read the article titled, “IMF to hold rich nations to Africa pledges,” click here.