Mubarak at NEPAD conference: developed countries should help ease debt burdens of African nations
Egypt-Regional, Politics, 2/9/2002

Egyptian President Hosni Mubarak said developed countries should help achieve genuine development in African states and ease down their debt burden.

He said achieving goals of development initiative in Africa requires an agreement on priorities and introducing mechanisms necessary for implementation and follow-up.

Addressing a press conference held with French President Jacques Chirac and African leaders taking part in New Partnership for Africa's Development NEPAD.

President Mubarak said he delay of developed countries in supporting development efforts in Africa will help spread terrorism war all over the world within few years.

He said the globe would never be safe because poverty is more severe than terrorism.

He said rich and industrialized countries should be aware of this fact.

This African condition necessitates a boost to the private sector activities in the fields of producing, marketing and exporting agricultural commodities, supplying modern technology, easing accessibility of agro products to foreign markets and bolstering African national and regional potentials to engage in negotiations within the WTO,he said

Mubarak cited shortage in the infrastructure projects of water, transport, energy and information technology as the basic weaknesses in many economies.

These constitute a stumbling block for African development, said Mubarak, adding that inter-African cooperation should face this problem.

Tap water and electricity are available only to 60 percent of the African population where every 100 persons have only 18 telephone lines against 567 lines for every 1000 persons in the advanced countries, remarked Mubarak.

Asphalted roads cover only 35 percent of the populated areas where only one internet line is available to every 100 persons, he added.

Mubarak said the success of NEPAD member-states is pending cooperation in writing off part of the cumbersome debts of the African countries.

Debts' interests are slicing a colossal part of the national resource, further hampering development and widening gap with the advanced countries, added Mubarak.

He quoted studies as revealing that every one dollar obtained by the developing countries from their donors means 13 dollars in debts' service.

The total debt services paid by the African continent is more hat twice the cost of health and education services in Africa, said the President.

The burden on every citizen in the advanced countries will not be more than one pence per day in case all the developing countries' debts have been written off, added Mubarak.

He demanded a uniform balance between efforts to alleviate debts arc efforts exerted to slash the poverty rates, noting that the greater part of this task should be undertaken by the donor countries and the international development and financial institutions.

Addressing NEPAD summit, Mubarak said that trade is atop of the NEPAD agenda with all its branching activities including accessibility of African products to foreign markets, diversifying exports and supplying Africa with technical and financial support in the form of specific bilateral and regional progress.

President Mubarak stressed the importance that the advanced countries honour the obligations they made at the World Trade Organisation (WTO)'s 4th ministerial conference.

The developed countries had pledged to boost the institutional and negotiatory status of the developing countries within the WTO.

The development and modernization are one essential element to improve chances of African exports' access to international markets, said Mubarak.

This requires, at the national level, introducing new industries, upgrading the native African industries in which the African countries enjoy some privileges such as the agricultural industries, said Mubarak.

This can be attained via modern technology, increasing direct investments and drawing out frameworks for association between the industrial institutions and the businessmen across the borders, he added.

Mubarak urged observance of the particularties of the African development, especially in the agricultural field whose yield accounts for 35 percent of the African GDP and 40 percent of the continent's exports.

This sector employs 70 percent of the African labour force, noted the President.

Mubarak urged the donor countries as well as international development agencies to cooperate in forging a mechanism to address the debts problem and its impact on the efforts aiming to boost development rate in Africa especially during international financial and economic crises.

He underlined the importance that this mechanism would not add restrictions on the developing states in order not to block the development programmes.

He hoped such mechanism would provide facilities and advantages that would augment its abilities to survive the financial crises with the least damage.

He voiced hope the new initiative would procure more financial resources for Africa, whether in the form of official assistance or contributions from the private sector.

He also stressed necessity to spread awareness among the public openiion in the advanced countries about directing more aid to the south.

President Mubarak urged the G-8 to support African efforts in the fields of political and democratic reforms and taking into account the cultural and religious idiosyncrasies of these countries.

Previous Stories:
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  Mubarak-Chirac talks deal with Middle East deteriorating situation   (2/2/2002)
  Mubarak, Zemin discuss situation in Palestinian territories   (1/24/2002)

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