Average gross domestic product (GDP) growth in Africa is second only to that of South Asia. The improvement of macroeconomic and public sector management since the 1990s is widely praised. Substantial investment in infrastructure is now among the most pressing priorities.
Public debt levels are mostly well below 50% of GDP, a rule of thumb being that 40% is sustainable in emerging economies. Global investors' hunt for yield has enabled many African countries to tap international bond markets for the first time.
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