• Short Summary

    Representatives of 23 African central banks opened their annual meeting in the Moroccan city of Rabat on Monday (September 13).

  • Description

    Representatives of 23 African central banks opened their annual meeting in the Moroccan city of Rabat on Monday (September 13). The meeting is scheduled to last for five days and will be devoted mainly to the repercussions of the current international monetary crisis, in Africa.

    As the opening session of the conference the Governor of the Bank of Morocco, Prince Moulay Hassan Ben Mehdi, said the international monetary system was "facing a grave crisis which has deep economic and doubtless political implications". He also warned that the current monetary situation could have "particularly serious repercussions in the developing countries."
    At the same time Mr Ato Menasse Lemma, Governor of the Bank of Ethiopia and Chairman of the Association of African Central Banks, stressed the point that African was not only lagging behind the advanced countries but also the developing countries as a whole, with an average gross domestic growth rate of 4.1 per cent compared to 6.7 per cent for developing countries in general.

    SYNOPSIS: Representatives of 23 African central banks met in the Moroccan city of Rabat on Monday at the start of a five day annual conference. The conference was opened by the Governor of the Bank of Morocco, Prince Moulay Hassan Ben Medhi.

    In his opening speech the Prince said the international monetary system was "facing a grave crisis which has deep economic and doubtless political implications".

    This crisis, he said, could have "particularly serious repercussions in the developing countries." It marked, he said, "the return to unilateral practice which accentuates isolationist tendencies."
    The Chairman of the Association of African Central Banks, Mr Ato Menasse Lemma -- Governor of the Bank of Ethiopia - told the opening session that Africa was not only lagging behind the advanced countries but also the developing countries as a whole.

    The Chairman emphasised that Africa had an average gross domestic product growth rate of 4.1 percent compared to 6.7 percent for developing countries in general.

    The conference is scheduled to continue until September 18.

  • Tags

  • Data

    Film ID:
    VLVA7KAIWY48DB2FAOQ0BYOVT3NR7
    Media URN:
    VLVA7KAIWY48DB2FAOQ0BYOVT3NR7
    Group:
    Reuters - Including Visnews
    Archive:
    Reuters
    Issue Date:
    14/09/1971
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Black & White
    Duration:
    00:01:40:00
    Time in/Out:
    /
    Canister:
    N/A

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