Wednesday, December 03, 2008

Many African countries will not meet MDGs says UN official

Many African countries will not meet the Millennium Development Goals and the financial credit crisis is to blame. This is the opinion of the Deputy Secretary General to the United Nations, Dr. Asha-Rose Migiro.

The Tanzanian newspaper The Daily citizen interviewed Dr. Migiro about the credit crisis and it's effects on the MDGs.

Dr Migiro urged world leaders not to let the current problem erode the gains made in development, as it was likely to adversely affect aid and Africa's banking sector.

She said though the crisis has occurred in the developed countries, letting the MDGs fall off the track, especially in Africa, would be disastrous.

Though the rich countries were seeking solutions to the problems, they should not forget Africa, as sluggish economies in on the continent would in turn affect the rich countries.

"The financial crisis is of interest to the developed countries, but poor nations struggling to meet the MDGs can't be left helpless," she said.

The Deputy Secretary General said that although the banking sector in Africa was still small, a good number of banks on the continent were jointly owned with some foreign banks.

"The fact that the financial crisis emanated from the developed countries where such banks are based tends to affect all parts of the world," she said.

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