President Valery Giscard D'Estaing of France has urged the creation of a new international monetary system based on a greater solidarity between industrialised and developing nations.
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Background: President Valery Giscard D'Estaing of France has urged the creation of a new international monetary system based on a greater solidarity between industrialised and developing nations.
The French President suggested the system at the opening of a Franco-African summit meeting in Bangui in the Central African Republic.
He said poor countries were hardest hit by world inflation and France believed that a strengthening of solidarity between western industrialised nations and developing nations was the best course.
Representatives of 13 French-speaking African states attended the meeting.
They all said they would like to see agreement between French-speaking states emerge from the meeting.
African states represented included Burundi, the Central African Republic, Gabon, Ivory Coast, Niger, Rwanda, Senegal, Upper Volta, the Seychelles, Mauritius, Dahomey, Togo and Zaire.