The decades when the continent couldn’t raise major funds on ordinary commercial markets are over, but there are still worries about over-indebtedness. by Sanou Mbaye The nations of sub-Saharan Africa, in the post-independence euphoria of the 1960s, wanted to end the international division of labour under which they exported raw materials and imported manufactured goods. … [Read more...] about Africa borrows on the open market
DAKAR – Sub-Saharan African is in the grip of currency-union mania. Regional groups of countries in eastern, southern, and western Africa are all giving priority to the idea of creating a monetary union. But haven’t we heard this all before in Africa? Indeed, today’s enthusiasm for currency unions ignores the poor track record of previous attempts on the continent to … [Read more...] about Africa’s Misplaced Monetary Ambitions
DAKAR – There is something dismally familiar about the tide of news reports concerning Africa’s increased suffering – more poverty, malnutrition, civil strife, and death – in the face of the recent global financial crisis. Almost everywhere, the media translates academic conclusions into graphic illustrations of brutality and despair in places such as Guinea and the Democratic … [Read more...] about Africa’s Diaspora to the Rescue
Why are the countries of sub-Saharan Africa the poorest in the world? One reason is the set of ill-designed development strategies that the IMF and the World Bank have implemented in the region for nearly half a century. But the centuries-old culture of leadership that is ingrained in many African societies has played an equally disastrous role. Indeed, the overwhelming … [Read more...] about Sub-Saharan Africa’s Leadership to Nowhere
Institute for peace support and conflict management (IFK) Africa-Workshop January 26th to 27th, 2006: Sorting Out the Mess: Wars, Conflicts and Conflict Management in West Africa To assess the expectations West Africa can look forward to from Europe, there is, first, the need to understand the root causes of the problems that have beset the populations and the … [Read more...] about West African expectations of Europe
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 … [Read more...] about NEPAD : the wrong plan ?