Africa: Africa faces 'considerable risks' from global downturn

African economies face considerable risks from a renewed global economic downturn, African finance ministers told a Washington news briefing. They added that the continent’s economies are still on the recovery path from the previous global crisis and are in the process of restoring critical economic buffers. The ministers also stressed that Africa was bracing for adverse effects from the economic problems in the euro zone, with export receipts and remittances particularly vulnerable. They noted that, as a new global downturn threatened, African countries were more interconnected than ever before with their neighbors and with their principal markets.