Articles tagged World Bank

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Africa ‘s Oil Rush

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It takes a threat to oil supplies to get world leaders to pay attention to Africa . Usually neglected by globetrotting statesmen, the continent recently saw visits from US President George W. Bush, Chinese President Hu Jintao, Brazil ‘s Lula Da Silva, German Chancellor Gerhard Schroeder and many other world leaders. Their public comments were typically devoted to development, ending Africa ‘s More >

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Should Africa Follow the EU Model ?

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The African Union, which replaced the Organization for African Unity (OAU) in 2002, is trying to reproduce the European Union’s institutions and ways of acting. But copying the EU blueprint means that nothing has been learned from the past and that nothing is being done to avoid the pitfalls Europe has endured.

The biggest flaw in the EU model has been its reliance on a bureaucratic road to More >

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NEPAD : the wrong plan ?

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NEPAD, the last plan to kick-start Africa’s economic development adopted by the OAU in Lusaka (Zambia) on July, 11, 2001, is articulated around investment in the key sectors of infrastructure, agriculture, health and education. The plan is to be financed by the international community and through private capital flows, mainly from the multinationals. In choosing this way of financing their More >

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CFA Franc: a Colonial relic

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The former sub-Saharan French colonies did not have to fight for their independence. De Gaulle, then President of France, granted it to them. These countries undertook immediately to dismantle the federal structure in which they were operating and erected trade barriers between them.

Paradoxically, they kept the CFA as their common currency. They surrendered the management of 65% of their foreign More >

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CAPITALISM IN CRISIS

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Marxist economics made the withering away of the state its ultimate goal. However, it is the unabated liberalisation of the world economy, which is translating the old socialist dream into a disquieting reality. It needed the combination of three ingredients to make this twist of history possible.

First, there was Nixon’s decision in 1972-73 to end the dollar-gold link, which led to the official More >

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Senegal: Contrasting achievements in political and economic changes

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FROM THE LATE seventies to the present, Senegal has been going through a major political and economic change designed to generate economic growth and development. An appraisal of the results generated by these changes would show a picture of contrasting achievements.

On the political front, the agreement between the government and two opposition parties to form a coalition government has brought More >

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