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09/08/2004:

"African Leaders Meet to Draw Up Poverty Battle Plan"

OUAGADOUGOU, Burkina Faso (Reuters) - More than a dozen leaders from across Africa met Wednesday hoping to draw up a battle plan to fight poverty and create jobs in the poorest continent.

Leaders from Africa's biggest and some of its smallest economies hope to succeed where previous efforts have failed and break the twin scourges of poverty and unemployment.

``The peace and stability of our states will be built on the victories won in the field of employment,'' Burkina Faso's President Blaise Compaore told delegates at the opening ceremony.

Leaders from Algeria in the north to South Africa in the south, from Ethiopia in the east to Sierra Leone in the west of the continent converged on Compaore's poor, landlocked country for the summit, called by the African Union (AU).

Alpha Oumar Konare, former president of neighboring Mali and now chairman of the AU Commission, painted a grim picture of a continent gripped by HIV/AIDS, malaria and malnutrition and let down by donors who failed to live up to their pledges.

``This is an embarrassing score card for a continent so richly endowed,'' said Nigerian President Olusegun Obasanjo, who currently chairs the AU.

``The adoption of an investment-led poverty reducing employment strategy has become therefore a necessity,'' he said.

Rodrigo Rato, on his second trip to Africa since becoming International Monetary Fund managing director three months ago, said Africa needed higher, sustainable economic growth in order to beat unemployment and poverty.

He said developed countries must help Africa by opening up their markets to African produce and contributing more development aid, but stressed that African countries themselves must act to promote private enterprise and trade.

``Trade barriers in and among developing countries themselves remain too high,'' he said.

Callisto Madavo, the World Bank's vice president for Africa, picked up the private sector baton, insisting African countries must invest in infrastructure to increase access to services, accelerate regional integration and make it easier to do business.

``It is not enough to provide workers with the skills to compete if the regulatory environment drives investors overseas.'' he said.

African nations are the least friendly places to do business, the World Bank said in a report out Wednesday.

Full Article:Reuters

Yeah right. As if the 'regulatory environment' impeded the Europeans in 500 years of pillage. Now the IMF comes in with the stench of brimstone to finish the job.