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Reaction: African Finance Ministers
Oxfam spokesperson Caroline Pearce said:
Economic crisis and growth
“With the Eurozone crisis impacting investment and aid, African governments will be challenged to keep up investment in health, education and agriculture. This will be crucial for ensuring the global economic crisis doesn’t hit those who are already most marginalized.
“Oxfam welcomes African ministers' recognition of the importance of inclusive growth, and the dangers of inequality. It’s important that economic growth reaches the poorest people. More can and should be done to ensure that Africa’s economic growth is shared more equally.
“To mobilize more resources for services and infrastructure, action must be taken to stop tax money draining out of African countries to Switzerland and other tax havens. African governments must be transparent about financial flows into and out of their countries, and demand more transparency from multinational companies.
“Given current volatility and climate change, Oxfam’s calculations show food prices could double by 2030. There must be investment in small-scale farmers and African governments should resist pressure to mortgage Africa’s future by selling off land to irresponsible foreign interests.
“Oxfam endorses the call for more representation for Africa on the IMF board –Africa should have a stronger voice in this global institution, which is charged with stabilizing the global economy.
“These meetings have seen a welcome emphasis on the rights of women and their crucial role in development – a positive future for Africa depends on a stronger voice for African women.”
Caroline Hooper-Box + 202 321 2967