As African finance ministers and economic experts gather in Abuja, Nigeria this week for their annual consultations, reports concur in noting improved economic growth for last year and favorable continuing prospects. This summary conclusion, contrasting with media images of unrelieved crisis, reflects both stability in much of the region and increased world demand for African products. However, the average results are accompanied by wide gaps among different countries, with oil-producing coun...read more
As African finance ministers and economic experts gather in Abuja, Nigeria this week for their annual consultations, reports concur in noting improved economic growth for last year and favorable continuing prospects. This summary conclusion, contrasting with media images of unrelieved crisis, reflects both stability in much of the region and increased world demand for African products. However, the average results are accompanied by wide gaps among different countries, with oil-producing countries having the most favorable growth outlook. Growth has been both quantitatively and qualitatively insufficient to create jobs and reduce poverty. The latest edition of AfricaFocus Bulletin contains recent material related to this theme.