Africa's Pulse: Sub-Saharan African Economies Continue to Grow at a Steady Pace
- Publisher:
- World Bank
- Publication Date:
- 4 October 2012
- Tags:
- Africa, Banking and Insurance, Sustainable Development, Aid and Assistance
A summary of the main conclusions of a twice-yearly World Bank report on Africa's economies:
- Global economic activity has slowed significantly in recent months, weighed down by policy uncertainty.
- Despite difficult global conditions, growth in Sub-Saharan Africa has remained largely on track. However, the region’s economic prospects are vulnerable to heightened downside risks.
- Because Africa’s growth recovery since 2000—the longest expansion since independence—was based on improved macroeconomic policies and political stability, the prospects of sustained growth are strong.
- Discoveries of minerals are bringing the prospect of large revenues for newly resource-rich countries. The challenge for these countries will be to strengthen mineral governance so as to avoid the pitfalls of resource wealth.
