IMF asks for more help for Africa

The economy throughout Africa was growing at six percent a year, that is until the global recession started. Now, the International Monetary Fund fears that Africa may see no growth at all until well after the recession is over.

From the BBC, we hear more of the IMF plea to the international community.

The IMF said that Africa would need at least the doubling of aid promised at the Gleneagles summit in 2005.

"Without additional support, poverty reduction and economic development in Africa could be set back several years and political stability might be endangered in some countries," it said.

In addition, the IMF is planning to lend an additional $6bn (£4bn) to African countries at low interest rates over the next two to three years, after the G20 increased its resources at the London summit in April.

The IMF said it was also making its lending programmes more flexible, streamlining its programmes and making the conditions for lending less tough.

"Fiscal targets have been loosened in 80% of African countries," it said, "giving them more breathing space to deal with the crisis."

The IMF is now providing emergency support to a growing number of African countries, but it warned that more help was needed.

"The IMF cannot stand alone. To help countries weather this storm, all development partners need to follow through," Mr Strauss-Kahn said.