The opening session of the fourth session of the Association of African Central Banks was held in Kinshasa, Zaire, on Monday (18 August).
The opening session of the fourth session of the Association of African Central Banks was held in Kinshasa, Zaire, on Monday (18 August). It was inaugurated by President Mobutu sese Seko of Zaire, who said that he would be asking for a special conference of the Organisation of African Unity to discuss the increasing economic problems facing Africa.
The President said that there was a tendency among African countries to rely on help from the industrialised countries of the world, but he considered that this practise should no longer continue. African countries should in future rely on their own endeavours to solve their own problems.
Although the OAU usually dealt with political problems, President Mobutu said he thought that a specially convened summit conference would be the most appropriate way in which is could consider economic questions.
He also mentioned the recent visit of President Valery Giscard d'Estaining of France to Zaire, and said the visit had established a new concept in cooperation. He said it should be an example to all industrialised countries.
President Mobutu criticised the tendency of Africans not to trust their own currencies and to quote American or European currencies in business deals. It was high time, he said, that the African nations should rationalise their economic policies and started planning economic arrangements covering the whole continent.