Nowadays, African countries are wooed because they are perceived as the spearheads of the world economy. The Economist, the English weekly newspaper, predicts that in the next five years, seven out of ten fastest growing economies in the world will be in Africa: Ethiopia (8.1 per cent), Mozambique (7.7 per cent), Tanzania (7.2 per cent), Congo (7.0 per cent), Ghana (7.0 per … [Read more...] about Liberating Africans from the CFA “franc” trap
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Africa’s Winds of Change Return
DAKAR – How did Ivory Coast come to this? After gaining independence from France in 1960 with Felix Houphouet-Boigny as President, the country became the world’s largest exporter of cocoa beans and a significant exporter of coffee and palm oil. Throughout the 1960’s and 1970’s, sizeable export earnings, combined with easy access to credit, fueled an economic surge dubbed the … [Read more...] about Africa’s Winds of Change Return
Currency war : the stakes for Africa
A weaker exchange rate makes a country’s exports cheaper, potentially boosting a key source of growth for economies battling to find growth, as they emerge from the 2008-2009 credit crunch and economic crisis suffering from chronically deficient demand. Global imbalances are on the rise again, as is the risk of protectionism. Western countries are battling to keep their … [Read more...] about Currency war : the stakes for Africa
