President of the African Development Bank Donald Kaberuka has noted that there is little risk that the political crisis in North Africa could spread to the sub-Sahara region, but escalating oil and food prices are the main worry.
Oil prices have risen to above $100 a barrel, raising worries that food prices could climb too.
Oil prices have risen to above $100 a barrel, raising worries that food prices could climb too.
In 2008 international oil prices rose to above $140 and food prices climbed and led to protests in many countries around the world.
Anti-government protests have gripped North African countries such as Libya, Tunisia and Egypt, spreading to Bahrain as masses seek to unseat decade-old regimes.MR Kaberuka said the thing to worry about more is if the oil and food prices continue going up would be the issues of managing social tensions in many of various cities.
he said the Food security was a "serious problem" and the development bank would invest in agriculture-related infrastructure to support farmers.MR Kaberuka added that the sub-Sahara region's economy would grow by 5.5% this year but this was not enough.
he said elections in various countries were also a worry. Zambia, Nigeria, Zimbabwe and the Democratic Republic of Congo are among the nations that will go to polls in 2011.
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