Financial Infrastructure of Africa

A group of African leaders met in Ethiopia last week to talk about how the current financial crisis will impact their countries.

According to World Bank, Angola, who is a large exporter of oil, will see its exports drop by approximately 30% according to World Bank. Obviously this will have serious ramifications on the financial stability of the whole continent.

The World Bank has a proposed solution: Robert Zoellick has called for rich countries to donate 0.7 percent of the stimulus packages they approve for their own economies to a fund for developing countries which would be managed by international lenders.

Interesting....I am not sure what the breakdown of "rich" vs. "developing" countries will be. And this borders a bit on socialism. What international lenders will manage this?

A few questions:
1. Would this plan put a unstable continent into further instability?
2. What lenders would you trust to manage the stimulus packages?
3. What happens if the "rich" countries decide not to do a stimulus package?
4. What do you do with a country like Zimbabwe were there are serious questions concerning how monies from this fund will be used?

Talk amongst yourselves......