Leaders of African, Caribbean and Pacific countries meet on Thursday in Ghana at a biennial summit likely to be dominated by the impact of financial market turmoil in developed countries on some of the world's poorest nations.

The financial crisis has seen major Wall Street firms collapse and Western governments bail out failed banks, mortgage lenders and companies.

Many of the 79 ACP member states have already been hard hit by escalating prices of fuel and basic foodstuffs.

The summit is expected to call on the international community to agree on a strategy to stabilise oil prices at affordable levels.

ACP nations are also expected to call on donor countries to help develop alternative, more sustainable sources of energy.

The meeting should reaffirm the commitment of ACP member states to alleviate the food price crisis by developing ways of processing agricultural produce.

The most controversial head of state in attendance is Sudan's Omar al-Beshir the outgoing ACP chairperson.

Technically Bashir runs the risk of arrest in Accra if the International Criminal Court (ICC), which is trying to indict him for war crimes in Darfur, issues an arrest warrant while he is here. Ghanaian officials however, insist there is no chance of this happening.

"The last thing President (John) Kufuor will want before leaving office is a scandal like that," one official said.

Ghana holds presidential and legislative elections in December. Kufuor will step down after two four-year terms in office.

Formed in 1975, the ACP group now comprises 48 sub-Saharan African countries, 16 Caribbean and 15 Pacific states.

AFP