WTO Seminar

• 1. Africa: Enhancing growth and reducing poverty in a volatile world
  ShantaDevarajan
  World Bank
  http://blogs.worldbank.org/africacan
  

2. Before the global crisis
Africa was experiencing sustained, relatively rapid economic growth
As fast as all developing countries (except China and India)
3. For the first time in 20 years, Africas growth is equal to that of developing countries (except China and India)
4. Before the global crisis
Africa was experiencing sustained, relatively rapid economic growth
As fast as all developing countries (except China and India)
Broad-based:22 non-oil countries had 4+ percent average GDP growth from 1998-2008
5. Source: World Development Indicators, World Bank
6. Before the global crisis
Africa was experiencing sustained, relatively rapid economic growth
Broad-based:22 non-oil countries had 4+ percent average GDP growth from 1998-2008
Due to
Higher commodity prices
Increases in aid, debt relief and capital flows
Improved macroeconomic policies
7. Inflation in Africa
140
45
2
2
2
40
3
4
5
120
6
6
6
7
7
35
13
13
Inflation>20%
100
30
10%