Solution of Africa's External Debt Crisis Within A Framework of Recovery and Growth

Purpose of the Seminar Although in the aide memoir on the Seminar the organisers have indicated the overall objective of the Seminar, I would like to elaborate on that objective as follows: Since Africa's proposal for an international Conference on Africa's External Indebtedness has not yet been accepted by all, and since the debt problem continues to pose really dangerous obstacles to the future economic development and political and social stability of the African countries, the main purpose of the Seminar can be regarded as threefold: (i) to re-examine the validity and effectiveness of the contents of the Africa Common Position (ACP) on Africa's External Debt Crisis; (ii) to asses the effectiveness of the various proposals and measures taken so far at the international level to deal with the external indebtedness of the developing countries in general, and their relevance and effectiveness for Africa in particular; and (iii) to consider the future course of action, as far as Africa is concerned, internationally and within the continent itself. Although it is not specifically stated in the OAU aide-memoir on the Seminar, it is assumed that the whole of the Seminar exercise, especially Seminar papers and deliberations, should be as practical as possible. In particular, concentration should be on those measures and recommendations which are likely to find acceptance for implementation. In other words, some desirable ideas, which might commend themselves at theoretical levels, should not be given much space or time if there are no prospects of their implementation.