The past decade has been one of great volatility for Africa but also of substantial progress. In that environment, predictions that sub-Saharan Africa SSA as a continent was about to enter the fastest growth period of its young year history would have seemed impossible.
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However, between and gross domestic product GDP grew by 6. Commodity-exporting countries as well as non-commodity-exporting countries experienced high growth rates. In fact, some of the non-commodity-exporting countries such as Burkina Faso, Mali and Rwanda grew faster than their commodity-exporting neighbors.
Journal of African Trade
The hitherto poor macroeconomic indicators that had become synonymous with Africa have also changed. A series of online courses developed to help learners improve their decision-making, leadership, and policymaking skills for the public good. Harvard Kennedy School leads with ideas Can we harness science for the public good? Politics What happens at the intersection of politics and policy?
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Export performance of developing countries under the Africa Growth and Opportunity Act
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Doctoral Programs. Going forward, it is imperative that the region undertakes the following four actions, concurrently : invest more and better in its people; leapfrog into the 21 st century digital and high-tech economy; harness private finance and know-how to fill the infrastructure gap ; and build resilience to fragility and conflict and climate change.
With digital economy investments and reforms, Africa may be able to accelerate, possibly even leapfrog the traditional growth model, and transition from an agriculture-based economy to a digital economy, leaping over intermediate steps, while building core infrastructure, systems, and competencies.
The World Bank Group, through the Digital Economy for Africa DE4A Moonshot initiative, is helping the region catalyze digital transformation and massively scale-up efforts and resources to build the foundations of a thriving digital economy. The Africa Climate Business Plan , launched in , has delivered significant results ahead of schedule, particularly in the areas of climate-smart agriculture, integrated watershed management, climate-smart ocean economies, climate resilience in coastal zones, social development, and renewable energy.
The Impact of Trade Liberalization on Export Growth and Import Growth in Sub-Saharan Africa
There will be a greater focus on fewer and bigger operations in areas like the digital economy, promoting power trade, human capital, and sub-regional fragility hotspots. The World Bank Group will continue to scale up successful regional and country level approaches. Maximizing finance for development: At a time when public resources are increasingly scarce, and the aspirations of African populations are rising, the World Bank Group has embraced the Maximizing Finance for Development approach to systematically leverage all sources of finance, expertise, and solutions that will help create an enabling environment for investors, particularly those in the private sector.
Thanks to the concerted efforts of the WBG, most of the energy generation conducted in Africa is handled by the private sector, and in a clean way. Boosting resilience to conflict and violence: Sub-Saharan Africa faces serious challenges related to fragility, conflict and violence FCV that threaten to undermine development gains. With violent conflict surging, the fight to end extreme poverty in Africa will require a stronger focus on addressing the underlying drivers of fragility in order to create opportunities for peace and shared prosperity.
Together with the United Nations, the International Committee of the Red Cross, and global technology firms, the World Bank is developing the Famine Action Mechanism , a new initiative that harnesses technologies such as Artificial Intelligence and Machine Learning to strengthen our ability to forecast famine risks and ensure funds are released before a crisis emerges.
In countries like Somalia or the Central African Republic, we are focusing our efforts on building state capacity and legitimacy, strengthening accountability and inclusive institutions, and ultimately building the trust needed between citizens and the state for long-term peace and stability to take root. Country Economic Updates, produced in consultation with member countries and other stakeholders, help promote substantive discussions around key policy issues.
Ethiopia's new economic program challenged by foreign-exchange scarcity | IHS Markit
Key focus areas include boosting human capital and empowering women, promoting regional integration particularly in the Horn of Africa and the Great Lakes regions, increasing access to affordable renewable energy, building resilience to climate change, and maximizing finance for development. Of the million children under the age of five in Africa, one-third are stunted and less than one-quarter are enrolled in preschool.
Children who are well nourished, nurtured and protected from stress carry advantages with them that last a lifetime. The World Bank is employing a multisectoral approach to reduce stunting, expand access to early learning and harness social protection opportunities to reach the most vulnerable. Africa is the lowest carbon emitter and yet is more vulnerable to climate change than other regions.