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We need to create trust to attract investors to Africa, says Germany’s Chief Economist

In previous interviews you recall the years immediately after the financial crisis as some of the most difficult of your career at the ministry. Have recent crises beyond German borders modified this feeling in any way?

I would say that the global financial crisis was in a way a very extended crisis. It started with the US, but then it became a European crisis. For me, it was all one big crisis. In the last three years things have calmed down and I’m certainly happy that we are now in a broad-based global economic recovery. It makes our life a lot easier, and it also has made our G20 presidency a lot easier. However, it would be prudent not to assume that there isn’t going to be a new crisis. And it’s important to strengthen the resilience of our economies to be ready for any future problems. Apart from preserving macroeconomic stability, I think it is important to preserve a spirit of mutual global cooperation as we have over the past year in our G20 presidency with some success.

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