African Economic Outlook 2009 by OECD OCDE

By OECD OCDE

The African financial Outlook 2009 stories the new financial state of affairs and predicts the momentary evolution of forty seven African international locations which account for ninety nine% of the continent's financial output and ninety seven% of its inhabitants. The Outlook is drawn from a country-by-country research in response to a different analytical layout. This universal framework contains a forecasting workout for the present and the 2 following years, utilizing an easy macroeconomic version, including an research of the social and political context. This Overview encompasses a comparative synthesis of African state clients, putting the evolution of African economies on the earth monetary context. it is also a bit on innovation and knowledge and verbal exchange applied sciences (ICTs) in Africa, providing a complete evaluate in their proliferation and use at the African continent, in addition to a statistical annex. A URL is supplied for linking to the full-length nation notes.

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Record replenishments of IDA and the African and Asian Development Banks will add about another USD 4 billion to this figure in 2010. Thus, about USD 21 billion of the USD 50 billion promised by 2010 has already been delivered or has been planned. This leaves nearly an additional USD 30 billion in 2004 dollars - about USD 34 billion in 2007 dollars to be programmed into donors’ aid budgets if their aid commitments for 2010 are to be achieved10. The severity of the economic crisis in major donor countries reinforces doubts on whether aid commitments will be respected.

Moreover, more than 60 per cent of the population live in rural areas, are dependent on domestic food production, and are thus somewhat less vulnerable to external shocks. In 2008, growth was driven by the commodity-price boom, which peaked at mid-year and had clearly collapsed by the end of the year, accompanied by strong growth in private investment. Growing conditions in the agricultural sector were also generally favourable. Countries were beginning to have problems with controlling inflation, but, by and large, were continuing to reap the benefits of sound macroeconomic policies (See Box 7).

4 billion at end 2007). 6 billion the previous years. FDI levels and prospects still vary widely by region, sector and country. FDI investments in North Africa were the continent’s most diversified, with projects in textiles, oil and chemicals and the production of generic pharmaceuticals. 6 billion. 4 billion foreign entry into Libya’s state-owned Tamoil). 6 billion in 2007. Nigeria still accounted for 80 per cent of total West African investment, mostly reflecting oil industry expansion projects.

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