UN to release global crisis report today

The World Bank and the United Nations (UN) will today release a report showing how the global financial crisis has impacted on economies in the world. The revelation was made yesterday by Patrick Bitature the Chairman of the Uganda Investment Authority during a press briefing at the ongoing African Union (AU) summit in Kampala.

The World Bank and the United Nations (UN) will today release a report showing how the global financial crisis has impacted on economies in the world.

The revelation was made yesterday by Patrick Bitature the Chairman of the Uganda Investment Authority during a press briefing at the ongoing African Union (AU) summit in Kampala.

“The World Bank and the United Nations have done a study and the official date for the release of the study is tomorrow (today),” he said without divulging details of the findings.

He added that due to a contraction of money and credit globally, this led to the crisis having severe impact on all countries of the world.

Experts have said that Rwanda was shielded from the crisis for several reasons, including the fact that it is geographically far away from the source of the problem (the developed world).

Bitature called for concerted efforts on the part of the private and public sectors in transforming Africa into a strong economic hub that will favorably compete with the western world.

“We have to deliberately work on all these bottlenecks like ensuring free movement of goods and services in all our countries,” he said.

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