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  1. domum

    12,682 posts.
    World Bank targets Africa's conflict zones

    Rwanda's economy needs to be rebuilt

    The head of the World Bank, James Wolfensohn, is touring Africa in order to build relationships with countries emerging from conflict.
    Mr Wolfensohn is visiting Rwanda for the first time on Monday, following on from a landmark trip to the democratic republic of Congo at the weekend.


    Mr Wolfensohn is touring the region

    He is due to discuss how Rwanda's economy can be restored at a private dinner with the country's President Paul Kagame.

    Mr Wolfensohn's trip to Rwanda comes as the country begins the transition from emergency reconstruction to long-term development, eight years after its horrific genocide.

    From there, he will go on to Tanzania, and meet finance ministers from nine African countries emerging from conflict.

    Debt relief hopes

    Mr Wolfensohn has already held up the democratic republic of Congo as an example of a country that has implemented sound economic policies despite civil war.

    "What the government has done here is extraordinary, they have created a base with a stable currency and budget," he said.

    As a result, Mr Wolfensohn has recommended that the World Bank wipe out 80% of Congo's $12bn debt mountain early next year.

    "We want to establish a clean slate for the country," he said.

    Civil-war broke out in Congo four years ago, and the United Nations is still struggling to broker a peace agreement.

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