Over 100 finance ministers, central bankers and activists gathered in Tanzania recently for a conference aimed at changing IMF’s relationship with Africa and preparing the continent for effects from the global credit crunch.
The two-day conference, termed “Changes: Successful Partnerships for Africa’s Growth Challenge,” gave participants and panelists – including former UN Secretary-Gen.
Kofi Annan, IMF Director Dominique Strauss-Khan and leaders from across Africa – room to discuss challenges confronting the financial sector, commodities and development generally.
“If not managed, this [the global credit crisis] threatens to undo the progress of recent years across Africa,” said Mr Annan. “Africa is now on the front-line of the most dramatic effects of economic instability.”
He voiced concern for the Africans left most vulnerable by the credit crisis and called for a “radical re-design of global governance” in the wake of economic mismanagement in the developed world.
Mr Strauss-Khan underscored the Fund’s role in response to the crisis, promising more internal reforms, technical assistance and establishment of early-warning mechanisms.



