KIGALI (TAP special correspondent Semia Boukhatem) - "At the request of the G8 Finance Ministers
, we are working on an innovative solution together with other international funding institutions to help economic recovery in the North African region, more particularly in Tunisia and Egypt," AfDB President Donald Kaberuka said at the opening of the Bank's 49th Annual Meetings held, May 19-23 in Kigali.
Jordan's Finance Minister Mohammad Abu Hammour, who took part in the G8 finance ministers
meeting today in the Mediterranean port of Marseille, said in a statement to Jordan News Agency that this financial aid will support economic, and political reform programs in these countries and would reinforce democracy and the welfare of Arab societies.
Speaking ahead of a meeting of G20 ministers later this week at the spring meetings of the International Monetary Fund and World Bank in Washington, the official also said G8 finance ministers
would hold a special meeting on Thursday to discuss the situation in the Middle East and North Africa.
On supervision, leaders signed up to the five-pronged Lecce framework' drawn up by G8 finance ministers
at a 13 June meeting.
G8 finance ministers
have so far recapitalised the banks to strengthen their balance sheets, bailed out strategic companies in need and called for increased efficiency.
At the latest G8 finance ministers
meeting, participants stated that stabilization was taking effect thanks to the different government measures, but that it was too early to cut back on stimulus packages and/or to reverse policy.
Meanwhile, the meeting of G8 finance ministers
hinted that the recent strength of commodity prices threatened future growth.
Key Overnight Developments • NZ Annual Manufacturing Sales Shrink for First Time Since Q3 2007 • G8 Finance Ministers
Consider Plans to Roll Back Fiscal Stimulus • Russian FinMin Says US Dollar Fundamentals Are in 'Good Shape' Critical Levels The US Dollar gapped higher following supportive commentary at the weekend's G8 summit and a decline across Asian stock exchanges, adding as much as 0.
We, the G8 finance ministers
, remain focused on addressing the ongoing global economic and financial crisis.
But Asmussen said the G8 finance ministers
would discuss "credible exit strategies" from the crisis measures which governments had taken.
13/06/08, OXFAM INTERNATIONAL -- The credibility of G8 finance ministers
will be tested this weekend as the world waits for more urgent and stronger action to tackle global poverty in the face of climate change and rising food prices.
We support the initiative of G8 Finance Ministers
to foster the development of deeper, more liquid local bond markets in emerging economies.