NEW YORK - President Paul Kagame, on Sunday, chaired the second Presidential Advisory Council (PAC) meeting of the year in New York.

PAC members discussed policy responses to the impact of US Debt Crisis, and international oil and food prices on the Rwandan Economy.

They also looked into how Rwanda can harness social media to enhance development.

Three new members were appointed to the council; renowned journalist Andrew Mwenda, senior bank executive Rod Reynolds and the Governor of National Bank of Rwanda (BNR), Claver Gatete.

Gatete said that policy measures taken have been successful in minimising the effects of the debt crisis in the US and Europe.

On the Rwandan economy, Professor Michael Porter from Harvard University pointed out that current policies that ensure economic stability have long been established and Rwanda continues to be on the right track to sustainable development and strategic economic advantage.

The Minister of Foreign Affairs and Government Spokesperson, Louise Mushikiwabo, said that the power of social media presented opportunities as well as challenges for development. She observed that Rwandans were in position to use social media tools to tell their own stories and remain in touch with their leaders.

During the meeting, Dale Dawson of Bridge to Rwanda, announced the launch of Isoko Institute, a Think Tank based in Kigali aimed at nurturing African entrepreneurship.

Mwenda is the founder of the Independent, a weekly Ugandan Magazine which also publishes a Rwandan edition, while Reynolds is the head of Scotia Bank of the United Kingdom.

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