Africa in the mix: The G20, Africa and the U.N

Photos: MCC, the U.N and

This week, leaders from around the world began gathering in New York for the annual United Nations General Assembly meeting. This gathering, now routine for the U.N., has been taking place since 1945 when the U.N was founded.

It has been 64 years since the catastrophic events of the second World War(WWII) gave birth of this peace movement called the United Nations.

In another news, African-born Daniel Yohannes was nominated by President Barack Obama to be the CEO of the Millennium Challenge Corporation (MCC).

The MCC overseas the Millennium Challenge Account, a bilateral development fund created by the Bush administration in 2004. The Fund, working through a Compact Agreement, disburses development resources, with accountability, to both rich and poor nations. A lot of the countries that have benefited from the MCA are from Africa. Many of these countries are now classified as Heavily Indebted Poor Countries (HIPC).

For the G20, an amalgamation of twenty industrialized nations, with the aim of strengthening the world’s financial systems and fostering sustainable economic growth and development, the September 20 meeting in Pittsburg, comes at a crucial time. It is a crucial time for the financial industry around the world that came close to collapsing under the weight of a mortgage crisis, the cascading effects of job losses, mounting personal and corporate debt.

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