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NEWS : Local News  

Sierra Leone Joins Credit Crunch Dialogue
By Aruna Turay
Sep 1, 2009, 16:08
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The Second Secretary at the Sierra Leone Embassy in Ethiopia, Mr. Christopher Bocakrie, represented Sierra Leone at the just concluded Human Security Dialogue Forum on "The Credit Crunch-Implications for Africa." The meeting, which took place at the Hilton Hotel in Addis Ababa, was organized by the African Human Security Initiative Secretariat and the Hanns Seidel Foundation. It was aimed at drawing attention to the prevailing opportunities for Africa to reinvent itself and shift the conditional ties in its favour.   According to Mr. Bocakrie, Africa was already struggling with rather stagnant economies and increasing poverty levels and would therefore left worse off due to the sagging world economy.  

He observed that from the discussions that followed, it was evident that the global melt down would have terrible consequences and implications on developing economies especially those that had been credit crunch for decades.  "Recommendations put forward were very relevant for developing economies such as Sierra Leone.  Some of the recommendations include: African Governments to put in place mechanisms to protect the vulnerable group with special reference to women and children; reinforce its regional integration; support sectors that are engines of socio-economic growth; reduce production constraints; explore alternative sources of funding besides Overseas Development Assistance and embark on increase investment in human capital," Mr. Bockarie cited.

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