AN INDEPENDENT, NON-GOVERNMENTAL TASK FORCE TODAY [THURSDAY / MAY 22] URGED PRESIDENT CLINTON TO ADOPT A MORE ACTIVIST ECONOMIC POLICY TOWARD AFRICA. THE TASK FORCE WAS ORGANIZED BY THE U-S COUNCIL ON FOREIGN RELATIONS.THE TASK FORCE CONSISTED OF FORMER HIGH-LEVEL GOVERNMENT OFFICIALS, BUSINESS EXECUTIVES AND ACADEMICS. IT CALLED FOR INCREASED U-S TRADE WITH AND INVESTMENT IN AFRICA, MORE DEVELOPMENT ASSISTANCE TO COUNTRIES PURSUING REFORMS, INCREASED DEBT REDUCTION, AND GREATER INTERNATIONAL COOPERATION.
FRANK SAVAGE SERVED AS CO-CHAIRMAN OF THE TASK FORCE. MR. SAVAGE IS CHAIRMAN OF ALLIANCE CAPITAL MANAGEMENT, WHICH MANAGES A 183-BILLION-DOLLAR PORTFOLIO (FOR BUSINESSES). HE SEES TREMENDOUS OPPORTUNITIES FOR ECONOMIC GROWTH LED BY PRIVATE INVESTMENT, AS AFRICAN LEADERS EMBRACE THE WORLDWIDE TREND TOWARD MARKET ECONOMIES AND DEMOCRACY.
I'M QUITE IMPRESSED. I'VE BEEN INVOLVED IN AFRICAN AFFAIRS SINCE I WAS ABOUT 14 OR 15 YEARS OLD. NEVER IN MY ENTIRE 30-YEAR EXPERIENCE, HAVE I SEEN THE PRE-CONDITIONS THAT I THINK EXIST NOW. I THINK THAT WHAT'S HAPPENING IS THAT A VERY INVESTOR-FRIENDLY ENVIRONMENT IS BEING CREATED. AND THIS IS A GREAT OPPORTUNITY FOR THE WORLD AND FOR ALL OF US.
BUT MR. SAVAGE SAYS AFRICAN COUNTRIES NEED HELP DURING THIS TRANSITION PERIOD. HE BELIEVES THE UNITED STATES GOVERNMENT MUST TAKE THE LEAD IN AIDING THEM.
WITHOUT THE U-S GOVERNMENT PLAYING A KEY ROLE TO FACILITATE THE CHANGE PROCESS THAT IS UNDERWAY IN AFRICA, IT WILL BE DIFFICULT FOR AFRICA TO TAKE FULL ADVANTAGE OF THIS OPPORTUNITY. AND THE BUSINESS WORLD, QUITE FRANKLY, NEEDS THE U-S GOVERNMENT TO GET INVOLVED TO HELP THESE GOVERNMENTS MAKE THE CHANGES THAT THEY'RE TRYING TO MAKE BECAUSE THE GRAVITY AND THE SCOPE OF THE CHALLENGES THEY FACE ARE SO ENORMOUS THAT THEY ARE NOT ABLE TO HANDLE THESE PROBLEMS AND REDRESS THESE PROBLEMS ALONE, WITHOUT HELP. THEY WILL NEED HELP ON EVERY SCORE [IN EVERY WAY]. AND THIS IS WHY THIS REPORT IS CALLING FOR A COMPREHENSIVE APPROACH. WE'RE TALKING ABOUT A WHOLESALE, COMPREHENSIVE APPROACH LED BY THE U-S GOVERNMENT IN TRYING TO REALIZE THE OPPORTUNITIES OF AFRICA.
THE CLINTON ADMINISTRATION APPEARS TO BE CLOSE TO MAKING FUNDAMENTAL DECISIONS ABOUT U.S ECONOMIC POLICY TOWARD AFRICA. IT IS PREPARING WHAT IT CALLS THE "PARTNERSHIP FOR AFRICAN GROWTH AND OPPORTUNITY."
MEANWHILE, THE U-S CONGRESS IS NEARING COMPLETION ON ITS "AFRICAN GROWTH AND OPPORTUNITY ACT." THE TASK FORCE REPORT IS AN EFFORT TO INFLUENCE THIS PROCESS, AS THE ADMINISTRATION AND CONGRESS APPROACH DECISIONS ON ECONOMIC POLICY TOWARD AFRICA.
22-May-97
Source: Voice of America