Favorable conditions for African cotton
In order to reduce the widespread economic disparity between the rich countries and Africa, Rodrigo Rato (Rodrigo Rato), head of the International Monetary Fund, asked Western countries to remove subsidies for cotton production.
To place African countries out of the vicious circle of poverty, the International Monetary Fund gave loans on favorable terms the countries of this region. Rodrigo Rato said that #39;now holding talks with the World Trade Organization, industrialized countries must stop subsidizing which#39; distorts #39;trade#39;. Mr Rato insisted that it was necessary to develop a system of cotton sector reform in Africa.
Abolition of subsidies will stimulate the production of cotton. Proposal Rodrigo Rato is of great importance, as the summit of Eight, which begins July 6, 2005, will address the issue of debt relief and aid African countries, according to fibre2fashion
