Yash Tandon on Financial Crisis and Impact on Africa

There is more turbulence on Wall Street. As the week began, credit loosened up and stock markets slowly regained lost ground, but just as there was a sigh of relief, Wednesday brought another sharp drop in the Dow Jones Index and investor worries grew that economies around the world are weakening rapidly.

Consider this: some of the billion poorest people in the world, 70 per cent of whom live in Africa, have been recipients of foreign aid from Western nations.

Yet despite this aid, during times of immense global success there have been tremendous development failures. On this show Riz asks how the developing nations will be affected in the face of a potential global economic crisis.

On Thursday's (23rd October 2008) Riz Khan we speak to Yash Tandon, the executive director of the South Centre, an intergovernmental organisation of developing countries. The South Centre examines development problems and provides intellectual and policy support to these countries. Professor Tandon does not believe that the African continent is likely to be affected by the global credit crunch.

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News & Politics

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• yash
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• africa
• aid