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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
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.
Related Articles1.8 References: Economic Report on Africa 2007
4.0 Diversification trends in Africa: Economic Report on Africa 2007
References: What Drives China’s Growing Role in Africa?
V. D. The Future of China-Africa Economic Relations: FACTORS INFLUENCING THE GROWING TIES
CONCLUSION: What Drives China’s Growing Role in Africa?
What Drives China’s Growing Role in Africa?
Is Africa Choking on its own development?
Least Developed Countries Report, 2007
III. A. China’s African Policy and New Commitments for 2007–09: THE ROLE OF CHINA’S PUBLIC SECTOR
2.0 Gender in African economies: Gender Entrepreneurship and Competitiveness in Africa, 2007
V. B. African Demand for Infrastructure: AID VS. COMMERCE: FACTORS INFLUENCING THE GROWING TIES
IV. A. Private Traders: THE ROLE OF THE PRIVATE SECTOR
Loan Guarantees Main Source of Fannie Mae and Freddie Mac Losses
Loan Guarantees Main Source Of GSE Losses
II.B. Official Development Assistance and Debt Relief: TRADE AND CAPITAL FLOWS BETWEEN CHINA AND AFRICA
Introduction: Human Capital and Economic Development
V. A. Markets for Exports: AID VS. COMMERCE: FACTORS INFLUENCING THE GROWING TIES
III. C. Commercial Policies: THE ROLE OF CHINA’S PUBLIC SECTOR
Conducive Environments for Leveraging Economic Opportunity in Africa
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VI. Module III: National, Regional, and International Support
By United Nations Economic Commission for Africa
About the Author: United Nations Economic Commission for Africa
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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.
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