Wednesday, May 26, 2010

Report Optimistic About Africa's Future

The 2010 African Economic Outlook report, released on Monday, predicts a positive turnaround in a continent hit hard by the global financial crisis. The average growth rate of 6% amongst African nations in 2006-2006 was pushed down to 2.5% in 2009. In spite of this drop, however, experts are positive about the future, predicting a growth of 4.5% in 2010, and 5.2% in 2011. The findings of the report increase pressure on the International Monetary Fund and the G-20 to take these statistics into account when they announce their suggestions to the financial sector concerning contributions to help the alleviate the ongoing situation in Africa.

-Andrew Oestreich

SOURCE: ONE International