The global economic downturn could not have hit Africa `at a worse time` as the continent struggles with food shortages and humanitarian crises, the president of the African Development Bank (AfDB), Donald Kaberuka, said Wednesday.

The head of the AfDB made his comments at the opening of the sixth annual African Development Forum in Addis Ababa.

`Over the past 24 months, Africa has been hit by crisis after crisis. Over the last 12 months, the world has been affected by a financial crunch,` Kaberuka said in a speech to delegates.

The former Rwandan finance minister said that it would take time `to restore confidence and stability` in the global financial system, adding that `the crisis couldn`t have come at a worse time for the continent which is still battling with food shortages and humanitarian issues.`

Several African government officials fear their economies could suffer a knock-on effect from the financial crisis, notably in the shape of reduced aid packages.

Tanzanian President Jakaya Kikwete, current chairman of the African Union, expressed concern in October that the economic turmoil could curtail foreign aid to the continent.

`Tanzania and other developing countries are deeply concerned with the current financial crisis.... our appeal to our development partners is that they should not cut aid to the developing countries,` he said.

The global credit crunch has caused the worst crisis in decades in western financial institutions and observers argue that the flow of money from rich countries to Africa could slow down as a result.

Africa`s economy accounts for little more than one percent of world production and is heavily reliant on remittances and aid from developed countries.