ABSTRACT

Global Economic Crisis: Impact on Sub-Saharan Africa and Global Policy Responses [April 6, 2010]   [open pdf - 678KB]

"Sub-Saharan Africa has been strongly affected by the global recession, despite initial optimism that the global financial system would have few spillover effects on the continent. The International Monetary Fund (IMF) estimated in 2009 that average economic growth in Africa would slow to 1%, from an annual average of over 6% to 1% over the previous five years, before rebounding to 4% in 2010. As a region, Africa is not thought to have undergone a recession in 2009. However, most African countries are thought to require high rates of economic growth in order to outpace population growth and make progress in alleviating poverty. […] This report analyzes Africa's vulnerability to the global crisis and potential implications for economic growth, poverty alleviation, fiscal balances, and political stability. The report describes channels through which the crisis is affecting Africa, and provides information on international efforts to address the impact, including U.S. policies and those of multilateral institutions in which the United States plays a major role."

Report Number:
CRS Report for Congress, R40778
Author:
Publisher:
Date:
2010-04-06
Series:
Copyright:
Public Domain
Retrieved From:
U.S. Dept. of State, Foreign Press Centers: http://www.fpc.state.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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