Africa faces up to global turmoil

As evidence mounts that the international economic crisis is provoking a deep and prolonged downturn in the world economy, Africa is feeling more and more of its negative effects, says UN Under-Secretary-General and Special Adviser on Africa Cheick Sidi Diarra. Most seriously, Mr. Diarra explains in an interview with Africa Renewal, the global slowdown is reducing the prices of commodity exports, “the main basis of African economies.” Developed countries are also likely to “give priority to their own internal markets,” contributing to a decline in foreign direct investments in Africa and other developing regions.