WEST African finance ministers said on Monday they were concerned about inflationary pressures hanging over the region’s economic activities. The regional Economic Community of West African States (Ecowas) said in a statement the economic activity continues to suffer from “unfavourable external and internal conditions”, adding that economic growth in 2001 will be “less important than expected.” They blamed the increase of inflationary pressures on a lower supply of foodstuffs and a rise in prices of oil products. Inflation in the Ecowas countries stood at an average of 3,7% in the three first three months of 2001, against 0,5% in the same period of last year, the statement said. – AFP
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