Africa.s Recovery from the Global Economic Crisis
African economies have been shaken by the global economic downturn which followed the US-centered financial crisis of 2008. Africa.s growth rate for 2009 and 2010 has recently been revised substantially downwards by international financial institutions. For instance the IMF has revised Africa.s economic growth forecasts for 2009 downwards from 5 per cent in October 2008, to 3.5 per cent in January 2009, and to 1.7 per cent in April 2009. Likewise the World Bank has revised African growth prospects down to 2.4 per cent for 2009. The consequences of a reduction in growth, even if African economies may avoid shrinking, are likely to be higher unemployment and poverty, increases in infant mortality, and adverse coping with long-lasting impacts such as higher school drop-out rates, reductions in healthcare, environmental degradation, and political instability, inter alia.
|Date of creation:||2009|
|Date of revision:|
|Contact details of provider:|| Postal: |
Web page: http://www.wider.unu.edu/
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Phillip Arestis & Michelle Baddeley & John S.L. McCombie (ed.), 2007. "Economic Growth," Books, Edward Elgar, number 3958, March.
When requesting a correction, please mention this item's handle: RePEc:unu:wpaper:angle-june-2009-a. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Bruck Tadesse)
If references are entirely missing, you can add them using this form.