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African growth to reach seven per cent in 2011

Africas real gross domestic product growth could reach about seven per cent in 2011 from a forecast of about 5.5 per cent growth for 2010, the president of the African Development Bank (AfDB) said recently.

p>Africas real gross domestic product growth could reach about seven per cent in 2011 from a forecast of about 5.5 per cent growth for 2010, the president of the African Development Bank (AfDB) said recently.

Donald Kaberuka, president of the African Development Bank, was speaking at the AfDB's Committee of 10 (C10) meeting in February 2010. The world's poorest continent, mainly dependent on minerals and commodity exports for revenue, surprised economists by weathering the global economic crisis better than the West, where recession has curbed growth in many developed countries. The C10 also discussed a common African approach to global warming and financing to help Africa mitigate the devastating effects climate change was expected to have on the continent. The AfDB wanted rich nations to commit $40bn a year in new money to help Africa tackle the consequences of global warming.

Reuters

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