AfDB running out of cash

By Incorrect Author 8 October 2009

The African Development Bank is about to run out of cash after it lent to the continent’s 38 poorest countries to fend off the global economic downturn, its president says. Speaking in Turkey, where the International Monetary Fund and World Bank are meeting, the bank’s chief, Donald Kaberuka said the world's regional development banks and the World Bank were preparing to present the AfDB case for more resources to major donors early next year. But the World Bank has warned its 186 shareholder nations that the green shoots of global economic recovery were far from assured in developing countries, meaning the rich would find it difficult to finance this along with their own recovery.

Gallery

While we have your attention...

An increasingly rare commodity, quality independent journalism costs money - though not nearly as much as its absence.

Every article, every day, is our contribution to Defending Truth in South Africa. If you would like to join us on this mission, you could do much worse than support Daily Maverick's quest by becoming a Maverick Insider.

Click here to become a Maverick Insider and get a closer look at the Truth.


Constitutional Court ruling

Personal, home-based consumption of cannabis is decriminalised

By Nkateko Mabasa