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Instead of an "African Marshall Plan," Britain, France, and Belgium should stop dragging their feet and follow the example of the good people of Switzerland ("Don't just throw money at the world's poor," Economic Viewpoint, Mar. 7). Namely, they should return to African nations billions of stolen dollars stored in bank accounts across these countries by the Mobutus, Eyedemas, Abachas, Savimbis, Babangidas, and thousands of other Africans. This money, if returned, could go a long way toward obliterating any need for economic aid to African nations and would save the British Exchequer and Chancellor Gordon Brown hours of financial engineering with long-term bonds.
The new African initiative is an admission by the European socialists of their failed policies toward Africa since World War II. They are directly responsible for giving Africa to blood-thirsty Amins, Nyereres, Machels, and Mugabes. These AK-47 dictators put large chunks of public and private economies into their own pockets, while the countries and people become poorer and poorer. Until the European socialists admit that they have blood on their faces, no new initiative is going to work.
Benoni, South Africa The judges of the Business Journalist of the Year competition have named BusinessWeek "Magazine of the Year." The awards, organized by the London-based World Leadership Forum, are open to business and financial journalists of all nationalities and media. BusinessWeek also had 10 finalists on the shortlists in seven other award categories. We are indeed honored.