The Former President of the World Bank, James Wolfensohn, has cautioned African countries not to be"over confident of the attractive lending and borrowing packages from China and India". This is because Africa receives more in annual grants from the Organisation for Economic Co-operation and Development countries than from China and India. Mr. Wolfensohn said this in Accra when he delivered the second and final Aggrey Fraser Guggisberg Memorial Lectures at the University of Ghana.
The former World Bank President also urged African countries to invest the savings made from debt relief in health and education and ensure that they do not get into a debt situation in the next 20 years. The former World Bank President, James Wolfensohn was delivering the 2008 Aggrey Fraser Guggisberg Memorial Lectures in the University of Ghana.
