African Economic Outlook 2009 Launched in Dakar

Published on 12th May 2009

The prevailing global economic crisis has gravely affected Arican economics with GDP growth falling by more than half from a projected 5.7% to 2.8% in 2009, according to "African Economic Outlook", an annual publication launched on Sunday, 10 May 2009, in Dakar, Senegal, on the sidelines of the Annual Meetings of the African Development Bank (AfDB) Group. The book, published jointed by the African Development Bank, the Organization for Economic Cooperation and Development (OECD), and the UN Economic Commission for Africa, says the crisis has literally diminished consistent economic growth recorded by many African countries in the past five years. Due to the global economic downturn, the continent can expect only 2.8 per cent in 2009, less than half of the 5.7 per cent expected before the crisis, the report said. The majority of African economies recorded an average of 5% growth in the last half-decade. However, AEO's authors see growth rebounding to 4.5 per cent in 2010. Growth in oil-exporting countries is expected to fall to 2.4 per cent in 2009 compared to 3.3 per cent for the net oil importers.

Journalists Arrested in Zimbabwe

The editor of The Zimbabwe Independent Vincent Kahiya and the paper's news editor Constantine Chimakure were arrested yesterday on allegations of publishing falsehoods meant to undermine public confidence in law enforcement and security agents according to the Herald. The newspaper last Friday carried a story about the alleged abduction and torture of MDC-T functionaries and human rights activists by security and law enforcement agents. The paper published a list of security agents and police officers that it claimed were responsible for the alleged abductions and torture. Police chief spokesperson Senior Assistant Commissioner Wayne Bvudzijena confirmed the arrests, saying investigations were in progress. "The article appeared last Friday in which they listed a number of officers as abductors yet they were witnesses to be called by the State to give evidence. The two will appear in court on charges under the Criminal Law (Codification and Reform) Act, of publishing or communicating a statement wholly or with the intention of undermining public confidence in law enforcement agents. They named Central Intelligence Organisation operatives and Harare police officers as having been involved in last year's alleged "abductions and torture" of MDC-T and human rights activists.

Liberia, Nigeria Draw Battle Lines over Drugs

The Nigerian ambassador here, along with a letter from the Nigerian Attorney General have contradicted the Government's claim that the confiscated US0.52m from a Nigerian was in consultation with and endorsement of the Nigerian Government according to New Democrat (Monrovia). It is now revealed that the Nigerian Government, from the onset of the tussle over the money, demanded its return while authorities here say was intended to be laundered here. The Nigerian ambassador here, Mr. Ebenezer Obegun, confirmed to this paper in an interview Friday that his country's Attorney General wrote a The letter, published in full here is a reminder to Liberian officials about Abuja's desire to have the confiscated money (USD508,200) retrieved after they apparently failed to response to  earlier letter dated 4th October 2006 with same position. The letter amongst others said that the money was a pivotal exhibit in the investigation and prosecution of the Nigerian(Velentine Ogbonna Ayika) arrested here for money laundering and suspected drug trafficking thus it must be returned.

Kenya Villagers to Test Out UN Carbon Benefits Project

Villagers in western Kenya are the latest participants in a project carried out by the United Nations Environment Programme (UNEP) and its partners to calculate how much carbon can be stored in trees and soils when the land is managed in sustainable, climate-friendly ways according to UN News. The Carbon Benefits Project was launched today in communities in and around Lake Victoria by UNEP and the World Agroforestry Centre, along with a range of other key partners. Funded by the Global Environment Facility (GEF), the project is already being carried out in communities in Niger, Nigeria and China, where scientists are developing a system for measuring, monitoring and managing carbon in a diverse range of landscapes. Under the UN Climate Change Convention and its Kyoto Protocol, developed countries can offset some of their greenhouse gas emissions by paying developing economies for implementing clean and renewable energy projects such as wind, solar and geothermal power.


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