Economic Address - African Leadership Council - UC Sacramento

ECONOMIC FORUM Looking for answers in tough economic times African Leadership Council Presents quot;Crisis & Opportunities California State University, Sacramento What Next ? (Ben Heine) Impact and Opportunities on Emerging Economies and Africa Ms. Sophia Bekele BS. M.B.A, C.I.S.A, C.C.S, CGEIT CEO, CBS International

I believe that banking institutions are more dangerous to our liberties than standing armies. - Thomas Jefferson www.cbsintl.com

The Global Financial Crisis The Current : i. rapid expansion of securitization ii. fragile system because of complex off-balance - sheet instruments iii. highly leveraged financial market players iv. Cross-border spillovers intensified www.cbsintl.com Economic Forum - University of Sacramento, African Leadership Council

Results/Projections: Even if global growth turns positive again in 2010, output levels will remain depressed, fiscal pressures will mount, and unemployment levels will rise further in virtually every country well into 2011,” World Bank’s Development Prospects Group. www.cbsintl.com

The Global Financial Crisis Divide

Can the G-20 save the World Economy? Associated press Reuters Associated press Reuters www.cbsintl.com

The New Economic Order - Response to the Crisis Final Result A. Reform of international financial institutions to overcome this crisis and prevent future ones; B. Regulation of hedge funds C. Reform of regulatory regimes to strengthen financial regulation to rebuild trust; ( > saving, more capital requ, govt guarantees and regulated) D. A coordinated stimulus to restore confidence, growth, and jobs; restore lending between the different countries; therefore pledged 1trillion USD E. Renounce protectionism ; promote global trade (pledged 250 billion in trade finance) & investment to underpin prosperity; F. Shade light on secrecy of tax havens www.cbsintl.com

Africa at G20 G20 Should Use Crisis as Opportunity to Fix Inequity - Ethiopia’s Prime Minister Meles Zenawi’s representing the continent at G20 leaders quot;I cannot imagine the human the human race progressing by leaving behind 3/4 of the world population, it would be a huge mistake“ - Dr. Jean Ping, President of the African Union Commission • Africa presented “A Common African position” of the 53 member countries of African Union. • The crisis is expected to severely affect the continent. ….damaging their exporting capacities by some $50 billion in 2008-2009, according to AU figures • Result: “ Africa's voice was heard and success was achieved at the just ended summit of the Group G20”. www.cbsintl.com

Thought provoking independent voices www.cbsintl.com

Coordinated Global Response www.cbsintl.com

Economic Address - African Leadership Council - UC Sacramento

by cbsintl on Apr 12, 2009

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Economic Address - African Leadership Council - UC Sacramento — Presentation Transcript