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TODAY:  Fri, Jul 30, 2010   2:31am EAT

IMF pledges friendly aid to Africa

Written By:Faith Kendi    , Posted: Mon, Mar 08, 2010

Caption: IMF managing director Dominique Strauss Kahn

The International Monetary Fund IMF has promised to provide friendly aid to Africa with less intrusive conditions this year to help in fighting post global crisis effects.

Kenyan leaders led by prime minister Raila Odinga and Deputy Prime Minister Uhuru Kenyatta however believes the country and the rest of Africa needs fair trade with the developed nations and not foreign aid.

This they argued would help in poverty eradication and steer economic growth.

IMF managing director Dominique Strauss Kahn has however promised that his organization will provide affordable loan to African nations to help fight the post economic crisis effects.

Speaking during an open forum at the university of Nairobi prime minister Raila Odinga and deputy Prime Minister Uhuru Kenyatta advocated for fair trade between Kenya and the developed nations arguing that protectionism has steered African economies to extreme poverty and deprivation of her resources.

His sentiments were also echoed by nobel Laureate Wangari Maathai and Transparency international director Akere Muna.

Despite the relaxed terms of engagement promised by the IMF this year to African nations one thing is clear that Africa is tired of over reliance on aid and is demanding fair trade and equal opportunities in the international platform.

2009 was a tough year for African nations as the effects of the global economic crisis trickled to the continent.

In Kenya the rising food prices, extreme weather conditions coupled by reduced trade and tourism growth made things worse for the developing economy





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