Africa must reduce the multiplicity of decision centres and integrate its development programmes for the continent to achieve meaningful development, the former World Bank President, James Wolfensohn, said in Tunis on Friday.

Wolfensohn delivered the conference within the framework of the Bank Group's Eminent Speakers Program, attended by diplomats, African Development Bank Group staff and the top management led by Bank President Donald Kaberuka on the theme, “Africa in a Global World: Partnerships for Success”.

Wolfensohn gave an overview of the current global economic situation noting that there has been a fundamental change in the past 50 years that made it possible for less than 20 percent of the global population to own 80 percent of the world's income, while the remaining 80 percent of the population or five-billion people depend on the remaining 20 percent.

If changes are made to correct this situation, these figures will come down from 80 percent to 35 percent and from 20 percent to 65 percent. Therefore Wolfensohn explained Africa, which gets 2.5 percent of world income with projects that this could rise to three percent, really has a lot of work to improve the situation.

Citing the Bank Group's Independent High Level Panel report, the former World Bank chief gave four conditions, among others that Africa must fulfil to make progress: ensure peace and stability, improve the pace of economic reform and avoid slippages, build institutional capacity, and ensure good debt management. The rich world must help Africa to accomplish these prerequisites for economic growth and development.

Wolfensohn indicated that 53 states meant 53 ministers of finance and interlocutors as well.

I-Net Bridge