Africa hears pledges but little action at IMF-WB talks

AFP :
Pummelled by debt, poverty and natural disasters, African nations heard many pledges of support but saw little action at the first IMF-World Bank talks to be held on their soil since 1973.

The myriad troubles facing the continent were front and centre at the week-long talks in Marrakesh, Morocco, which began Monday and end Sunday.

The managing director of the International Monetary Fund, Kristalina Georgieva, said from day one that holding the meetings in Africa was “symbolically and substantively very important.”

“A prosperous world economy in the 21st century requires a prosperous Africa,” she said.

The IMF was moving towards giving sub-Saharan Africa a third seat on its executive board.