"It is not easy, it is painful, and we went through the pain, and the Europeans must be prepared to go through the pain," African Development Bank President Donald Kaberuka told Reuters in an interview.
He said the reforms needed in the ailing southern European states involved the kind of overhauls of public finances and labor markets and other structural reforms that African nations -- with firm urging from the IMF and World Bank
"But are we more risky than some of these peripheral countries in Europe, which have 150 percent of GDP in debt, 30 percent fiscal deficit?" Kaberuka asked.
"An average African country would now be growing at about six percent, we'd be having a fiscal deficit of no more than 3 percent, debt no more than 15 percent of GDP," he said.
His biggest worry was not what was happening in Africa, but what was not happening in the developed world, "the inability or unwillingness of the rich countries to take the decisions needed to return the global economy to growth momentum".
Zaidi jisomee hapa.
It hurts but do what we did, Africans tell Europeans | Top News | Reuters
Hawa jamaa inawapasa wameze chloroquin na quinine kama walivyokuwa wanajifanya waganga kwa magonjwa ya chumi za/uchumi wa nchi changa.
Wao ni bail-outs tu...fedha zinakwenda kwa wenye fedha zaidi na kuwaacha raia wao wakiishi na "domokrasia"
He said the reforms needed in the ailing southern European states involved the kind of overhauls of public finances and labor markets and other structural reforms that African nations -- with firm urging from the IMF and World Bank
"But are we more risky than some of these peripheral countries in Europe, which have 150 percent of GDP in debt, 30 percent fiscal deficit?" Kaberuka asked.
"An average African country would now be growing at about six percent, we'd be having a fiscal deficit of no more than 3 percent, debt no more than 15 percent of GDP," he said.
His biggest worry was not what was happening in Africa, but what was not happening in the developed world, "the inability or unwillingness of the rich countries to take the decisions needed to return the global economy to growth momentum".
Zaidi jisomee hapa.
It hurts but do what we did, Africans tell Europeans | Top News | Reuters
Hawa jamaa inawapasa wameze chloroquin na quinine kama walivyokuwa wanajifanya waganga kwa magonjwa ya chumi za/uchumi wa nchi changa.
Wao ni bail-outs tu...fedha zinakwenda kwa wenye fedha zaidi na kuwaacha raia wao wakiishi na "domokrasia"
