Africa’s Economic House Divided
Across Africa, almost all governments praise economic modernization as the cornerstone of prosperity and the yardstick by which their effectiveness should be measured. But too many African leaders have been willing to spend a fortune to equip their countries with state-of-the-art settlement systems, only then to proceed to exclude their citizens from using them.
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DAKAR – The world economic downturn and financial-market tremors have strained budgets across Africa. With the exception of Ghana, and a few other states, in 2009 most African countries’ fiscal balances deteriorated. But, thanks to prudent management of public finances during previous periods of robust growth, a significant number of African countries have endured the current crisis in better fiscal shape than during past crises.