Despite talk of a global economic recovery said to be ‘in
the works’ after the financial tribulations which marred the last few years of
the millennium’s first decade; incessant chatter is constantly being renovated back
and forth; as to the severity with which the world economic environment has
been jeopardized by said crisis, but also describing the unpleasant plight and
prospect of not years, but decades of tough times on the horizon, before the global
economy fully recovers.
This is made clear in no uncertain terms in discussions
bordering on the ever-impending ‘fiscal cliff’ in the US, the need for fiscal
consolidation & harmonization and an unhealthy dose of austerity in Europe, and the minor but very imminent talk of the once-infallible ability of the
BRICs to tread through these periods unharmed.
Furthermore an underlying problem across the board seems to be the unfeasible strategy of attempting to muster growth; while also engaging in
austerity.
Where does Africa fit in this discussion? Given that a
number of world economies are on the mend and trying to re-kindle economic
growth in harsh times; how have African countries grown prior to the crisis and
how are they affected, if affected at all?
The goal of this blog section is to provide a platform across which ideas and
discussion can be nurtured in order to aid and improve our Mother Africa,
accordingly we will attempt on recurrent a basis as possible to chronicle the
growth patterns of various countries around our continent, probing the various
caveats and miracles of winning strategies; while identifying the failings and
susceptible aspects of others. Given the
context of this piece, in time we will also attempt to identify any effects the
crisis may have had on these economies; and whether or not their plight is as
bad, if not worse, than their Western counterparts.
Chris Daboiko
Chris Daboiko
