If we can forget about the doom and gloom created by the world financial
crisis for a moment and look at history, economists tell us that the
crash of the stock market and fears of a recession or depression is nothing
new. By the way, some of us can barely remember the crash of 1987 when the
stock market lost as much as 45% of its value in markets around the world.
In 2008, the only thing that appears new is that it is being witnessed by a
whole new generation that was not here in 1987 or as happened in 1929 during
the great depression. In both cases, the world did not come to and end.
For me, I remain optimistic and yet hopeful, except my concerns are less with the
future of the United Sates and more on the future of Africa.
America, they say, can weather this crisis and soon it will become a story
for the history books. On the other hand, we still have a continent that many
of us love. Though far away, Africa remains intertwined within the fabric
of the global community. What impact is this crisis having on Africa as a
Will the US keep its commitments to Africa under the Millennium Challenge Corporation(MCC) agreements? Will the USA hold its pledge for a $48 Billion
increase in AIDS treatment to Africa under the Presidents Emergency Plan for
Aids Relief (PEPFAR)? Will the G8 nations hold to their commitment in 2005
to double aid to Africa to $25 billion a year by 2010?
Are we going to remain hold up in our homes and not discuss the implications of this crisis
towards Africa? Are we all going to stop sending money back home?
Do we sit back and weep that things are going badly?
Or do we rethink new ways about how we can help Africa deal with these problems?
Our news analysis now on the Africa News Matters website