07 Sep 2011Africa needed to prepare itself to weather and survive the looming second wave of the global recession, said human settlements minister Tokyo Sexwale on Tuesday.
Sexwale referred to International Monetary Fund (IMF) managing director Christine Lagarde’s statement that the world’s economy was on a “threatening downward spiral”, adding that this gave African governments and the private sector a push to work together in creating economies that would weather the financial storm that had hit the US and Europe.
“We have to work with what we have and do the best in supporting the needy in our communities, as they are the pillar we need to strengthen our economies,” he told an African Union Housing Finance general meeting in Johannesburg.
http://www.iol.co.za/business/business-news/africa-prepare-for-another-recession-1.1132467
