Friday, July 16, 2010
[IWS] AfDB: Briefing Note on the African Economic Outlook 2010: Africa Rebounding [16 July 2010]
IWS Documented News Service
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Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
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African Development Bank (AfDB)
Market Brief
Volume 1, Issue 2
16 July, 2010
Briefing Note on the African Economic Outlook 2010: Africa Rebounding [16 July 2010]
[full-text, 8 pages]
[excerpt}
1. Introduction
After a decline in growth in 2009, Africa’s recovery now seems well underway. The continent has exhibited substantial resilience to the global recession, relative to most other developing regions and its own past record. While some factors driving Africa’s recovery have been external, the positive outcome to date has also been due to the good policies that countries implemented before and during the crisis. Nevertheless, substantial risks remain and have been only exacerbated by the recent European turmoil, while the challenge of bringing African countries on a path of high growth and poverty reduction has become even more pressing. This note is based on the findings of the African Economic Outlook 2010 (AEO 2010). It examines how the African continent, its regions and countries, have weathered the global crisis and what the expectations are for 2010 and 2011. It also looks at trade policies and regional integration, the progress towards attaining the Millennium Development Goals and explores how public resources can be better mobilised for development through more effective, more efficient and fairer taxation. This issue is particularly important given the uncertainties about future export revenues and unstable and
unpredictable inflows of Foreign Direct Investment and Official Development Aid.
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Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
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