Tyrant Zenawi says US at Fault for Africa’s Econ Woes – By Peter Heinlein (VOA)

November 13th, 2009 Print Print Email Email

Ethiopia Prime Minister Meles Zenawi says failures in the U.S. financial system are largely to blame for Africa’s economic crisis, and pointed to China as a possible key to recovery. (more…)

Ethiopia Prime Minister Meles Zenawi says failures in the U.S. financial system are largely to blame for Africa’s economic crisis, and pointed to China as a possible key to recovery. Our correspondent in Addis Ababa has details of the Ethiopian leader’s keynote address to the annual African Economic Conference.

Heinlein report – Listen (MP3)

Speaking to an audience of academics and policymakers, Ethiopia Prime Minister Meles Zenawi painted a gloomy picture of Africa’s economic outlook. He said the theme of the conference, fostering development in the current economic climate, may be impossible.

“The first question that comes to my mind is: Is it possible to foster development when we have a whole era of economic crisis ahead of us? I am going to suggest today that while it is probable that Africa will not be able to foster development in the current era, it is nevertheless possible to do so,” said Meles Zenawi.

Mr. Meles, a former Marxist rebel leader, launched a blistering attack on what he called “discredited neo-liberal economic policies” imposed on Africa from outside. He said unsustainable consumption by the United States when times were good had condemned Africa to a protracted period of low growth ahead.

“The United States has hitherto served as the consumer of last resort and helped to maintain the unsustainable division of labor and division of production and consumption,” he said. “It is no longer able to do it, and this is the main cause of the current crisis.”

Mr. Meles suggested Africa’s best hope might be a massive infusion of cash from China and other countries that have amassed surplus savings by producing goods for the consumers.

“It is possible to imagine that the Chinese will decided to redirect some of their surplus savings to infrastructural development in Africa,” said Meles Zenawi. “It is possible to do so because to some extent it is already happening. Such a shift would mean tens of billions of dollars per annum invested in African infrastructure, again opening the opportunity for the transformation of the overall economy. Indeed, it is not only possible but highly probable that the Chinese will take steps that would widen the window of opportunity for Africa.”

The Ethiopian prime minister, who will lead the African delegation to next month’s Copenhagen climate summit, expressed doubt the world is serious about tackling global warming. But he said a climate deal could be a boon to Africa, with its sources of renewable energy.

Some experts say Africa stands to receive as much as $100 billion a year from rich countries to offset the effects of climate change.

The three-day African Economic Conference is being held against a backdrop of low-growth forecasts for the near future. The 2009 growth estimate for sub-Saharan Africa is just 1.3 percent, with a prediction of an increase to four or five percent next year.

African Development Bank chief Donald Kaberuka, said prospects for recovery remain fragile. He said a full recovery would not occur until the continent returns to seven-percent growth, possibly within a few years.

Zenawi contradicts himself 100% as he is quoted in the following AFP News on October 16, 2008

Financial Crisis To Have Little Effect On Ethiopia – Meles Zenawi (AFP)

Ethiopian Prime Minister Meles Zenawi said Thursday that the economy wouldn’t be devastated following the global financial crisis, despite a possible cut in aid and investment flows.

“In general, we don’t expect drastic effects on our economy, our financial structure is not as liberalized as those of affected countries and the economy is not intertwined to Western economies to face a crisis,” Meles told parliament.

“But that said, the whole situation goes hand in hand with economic recession, which could lead to a decrease in foreign investment and aid. On the other hand, we could benefit from a decrease in petrol price,” he said.

The global credit crunch has caused the worst crisis in decades in Western financial institutions and while Africa has so far been spared, observers argue that the flow of money from rich countries to Africa could slow down.

Africa’s economy accounts for little more than two percent of world output and is heavily reliant on remittances and aid from developed countries.

  1. Guest
    | #1

    Is this guy blackmailing America? That is funny. Playing the usual trickery he used to make on the Ethiopian poor wouldn’t help. The Americans are far smarter than a tribal leader. He better stop playing the big man of Africa. He even failed to lead a unified Ethiopia let alone organise and rally a continent. The arrogance is surging beyond the limit.

  2. Robele Ababya
    | #2

    The former US Administrations catapulted a die-hard communist regime to power. The USA is now getting criticized by a tyrant who is in complete Stalin-style control over the entire life of the Ethiopian people. Despite his heinous crimes, the tyrant enjoys direct flow of fund from some donnors of the industrialized democracies. These donors are building communism in Ethiopia with money collected from their tax payers – which this is a contradiction of the highest order

    The tyrant’s overture to China is to save his trial in the International Criminal Court.

    Thank you Abugida for posting this article.

  3. Lema
    | #3

    What a gross contradiction from an economist and leader of 80million and plus.It was only some monthes ago that he had uttered that Ethiopia was not affected by the finanicial crises of the west and continued to grow by more than 10% in the same crises year.No regret and no apology when he contradicts himself with in a span of few monthes.We can not assume that Ethiopia is excepional than the rest of Africa as it is presently devastated by hunger and far-reaching economic crises than the rest of the continent.

  4. ደምስ
    | #4

    The dictator is losing his mind. He probably getting crazy and crazier every day. Some thing is not right; he needs to go to Emmanuel Hosiptal for mental check-up. He is crying for help.

    Blaming the US is not the answer for Africa’s problem. Especially we Ethiopians are very greatful for the support we get from US. More than 50% the aids this dictator get is from US. The least he could’ve done is to thank the American public for their genorousity on belalf of our poor people. I do not remember the Chinese did any thing when it comes to aids or for the needy in our country.

    The dictator should remember he is going Europe next month to beg. He is not a part of G-20 leader. Some one has to let him know; he is there to beg. Begging is nothing to be proud of.

    It is amazing he disparage the most generous country in this planet. You are a very sick individual.

    Dictator please go away or go to hell!!

  5. mateos
    | #5

    I thought his wife stupidity when she was reading an english speach that was written in amharic alphabets was the shame of the shames of Africa’s first ladies but I guess it is true the english saying, ” a blind leads a blind”. Like his wife or whatever she is to him by now, this idiot have no boundaries of shame. When so many people accused him as being a khat addict or alcohol addict I for sure doubted that assumption, but it is becoming clearer and clearer by the day the mind set of these idiots: it is a matter of survival for him, his boss Bereket Simon, and the rest of the weyane mafia families as the whole world is becoming a little village. They have no place to hide or nobody to lie to. Meles, his boss Bereket Simon times are nearly up and Ethiopians will represent themselves at the world arena with out the aiga jungle products!

  6. Ahmed A-Nur
    | #6

    Finally but surely The Chairman of Marxisit Leninist League of Tigrai (MLLT) head and Current Ethiopias brutal dictator,blame the united states for africas failures after comfortably Milking billions of dollars US tax payers donation money during Bush-Cheney era for the last 8 yrs .Now after he realized Accountability and good governance and democracy is a pre requiste in order to got donation and be a partner with US ,Ethiopias Strong man seems to turn to china which have a policy to care less about Dictators brutal ruling Systems as long as they do business which benfits china …Hummm for most Ethiopians Zenawi’s ability of changing of his skin color like a snake skin as needed is not a new phenomena but might surprise to forigners who really does not know Zenawi-the brutal Ethnic war lord of Africa

  7. Anonymous
    | #7

    the tribalist TPLF leader melesse zenawi must be out of his mind when he say ethiopia is not affected by econmic crisis while millions of ethiopians are INDANGER OF LOOSING THEIR LIFE OF STARVASTION.MELESSE ZENAWI IS RESPONSIBLE FOR NOT ASKING FOR HELP TO SAVE HUNGRY MILIONS OF ETHIOPIANS AND ALSO BY PREVENTING DELIVERY OF FOOD FOR THE NEEDY.IT IS TIME TO REMOVE MELLESE ZENAWI AND REPLACE HIM WITH PEOPLE REPRESENTATIVES WHO CARES FOR THEIR PEOPLE.

  8. SOLOMON ABEBE
    | #8

    Meles Zenawi,the Notorious Ethnic war lord must be stopped and must be stopped now..ENOUGH IS ENOUGH .
    All Who know Meles well ,certainly Will agree in one thing , that he will say and do anything inorder to enrich him personally financially ,At this time he believed China will be a good Cash cow ,Since the West is in a temporary Economic crises ,Note that he was Milking All Donor Nations,IMF/WB etc…to enrich himself and his War lord Circlists …Since 1991 as a Strong man of Ethiopia . Hopefully the time will come to made him face justice for financial and genocidal crime he committed against Ethiopians and the rest of the World

  9. justice for all
    | #9

    Without a doubt, Meless is a narcissist and a psychopath.

  10. daniel
    | #10

    Did Meles ever talk non conradictory words. He is made of lies and lies. I belive christ will come if all of a sudden Meles talks about thruth.

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