Wednesday, October 16, 2013

Africa's economic growth

African countries are now routinely among the fastest-growing in the world, and their economies will continue to accelerate over the next two years, the World Bank says. But this impressive new boom in sub-Saharan Africa is still vulnerable to volatile commodity prices and its rapid growth is failing to make a substantial dent in poverty and inequality, according to a new report by the World Bank on Monday. he world was given a disturbing reminder of Africa’s extreme poverty levels last week when a fishing boat capsized and sank near an Italian island, killing more than 230 Eritrean and Somali migrants who were desperately trying to reach Europe. Wars and climate crises are among the many uncertainties that continue to jeopardize African economic growth, the World Bank noted. It cited the recent wars and terrorist attacks in Kenya, Mali and the Central African Republic. “Natural disasters such as droughts and floods are occurring more frequently while the threat of conflict continues,” said a statement by Makhtar Diop, the World Bank’s vice-president for Africa. Link:

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