Clinton Outlines Set of Enticements Encouraging African Economic Reform

WASHINGTON — President Clinton announced an economic development plan Tuesday that cuts tariffs for African countries reforming their economies and said he wants other industrialized nations to join his effort.

“This is a moment of tremendous promise for the people of Africa,” Clinton said.

Clinton said he would use this week’s summit in Denver of the seven leading industrialized nations and Russia to seek a coordinated effort, including urging the World Bank and the International Monetary Fund to provide debt relief for poor countries.

“I will ask our partners to join us in urging the international financial institutions . . . as well as the United Nations to create innovative new programs so that reforming African nations can succeed in integrating themselves into the global economy,” Clinton said.

Under the Clinton plan, the poorest countries in Africa would receive duty-free access to the U.S. market for about 1,800 additional products, while nations “undertaking concerted reforms” for their economies would benefit from reduced tariffs.

The plan also would better focus U.S. foreign aid to the continent, to ensure that it is fostering reform. When the Cold War was at its height, most aid was directed at backing any government friendly to Washington, without regard to its economic policies.