While the global multilateral financial institutions have remained dominated by the western countries, the influence of Asian countries in these institutions is growing. Meanwhile, certain financial mechanisms have been built by the Asian Countries to support their economic development and to widen their choices for development financing.Continue reading
Africa is a vast continent of 55 countries, and covers 20% of the earth’s land area. It is the second largest and the second most populous continent, first being Asia. Africa has been the hotspot of colonialism, the legacies of which still mar the continent. Let us have a look at African organisations and associated agreements of trade and cooperation.
The African Union (AU) is a continental union of all 55 countries on the African continent. It was established in 2002, as the successor to the Organisation of African Unity. It does not include territories held by foreign sovereigns: Spain (Canary islands, etc), France (Reunion, Scattered Islands in Indian Ocean, etc), Portugal and the UK.Continue reading