|
|
Like this article? PLEASE +1 it! |
|
1.0 Recent Economic Trends and Prospects for 2007: Economic Report on Africa 2007
Written by: United Nations Economic Commission for AfricaArticle Overview: Developments in the World Economy and Implications for Africa
![]() |
Free Download - VI. Module III: National, Regional, and International Support By United Nations Economic Commission for Africa |
1.0 Recent Economic Trends and Prospects for 2007: Economic Report on Africa 2007
Developments in the world economy have important implications for African economies
through various channels, including demand for African export commodities,
the impact on the trade balance and the cost of external borrowing (via world interest
rates). These developments are influenced by monetary, fiscal and trade policies
adopted by major industrialized countries as well as by exogenous events such as oil
price shocks.
Growth in the world economy remains dominated by the Asian economies, which
continue to grow at more than 8 per cent per annum. In contrast, growth in advanced
economies remains modest and is yet to reach the pre-2001 level. Key constraints to
growth include the massive global macroeconomic imbalances along with tight macroeconomic
stances in advanced economies, which prevent demand-led recovery.
High oil prices also undermine growth in both advanced and developing countries
through high production costs.
Some positive developments in the world economy are likely to sustain growth in
African countries. These include high export prices for export commodities due to
high demand especially from Asia, delivery of promised aid and debt relief, and
rising inflows of foreign direct investment (FDI) with an increasing share coming
from China and India, and higher inflows of workers’ remittances. However, these
developments need to be supported by adequate domestic pro-growth policies to
maximize the gains from increased external resources.
|
About the Author: United Nations Economic Commission for Africa RSS for United Nations's articles - Visit United Nations's website The United Nations Economic Commission for Africa (ECA) is the regional arm of the United Nations, mandated to support the economic and social development of its member States, foster intra-regional integration, and promote international cooperation for Africa's development. Click here to visit United Nations's website 21 Growth performance IV Economic Report on Africa 2007 31 Developments in trade negotiations V Economic Report on Africa 2007 66 Strengthening of institutions Economic Report on Africa 2007 22 Sectoral performance I Economic Report on Africa 2007 V NonMaterial Benefits of Microfinancing |
Related Forum Posts
Share this article with your friends. Fund someone's dream.
Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.
Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!
10 Steps to a Great Support Team
Emotional Energy is Our Engine
Environment and productivity at the office
Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.



