Economic Report on Africa 2008: Africa and the Monterrey by United Nations

By United Nations

We're now halfway among the adoption of the MDGs and the 2015 aim date and on hand proof exhibits that African international locations won't meet the pursuits if present financing tendencies proceed. accordingly, the foreign group has now concentrated realization on find out how to scale up financing for the continent. it's been stated that the implementation of the commitments within the Monterrey Consensus is important to attaining this target. hence the topic of Africa and the Monterrey Consensus: monitoring functionality and development used to be selected for fiscal document on Africa 2008, that is the second one record produced in collaboration among the United international locations monetary fee for Africa and the African Union fee.

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World Economic Situation and Prospects 2008, New York. UNCTAD, 2006. World Investment Report 2006: FDI from Developing and Transition Economies: Implications for Development. New York and Geneva. _______2007a. Handbook of Statistics, New York and Geneva. _______2007b. World Investment Report 2007: Transnational Corporations in Extractive Industries. New York and Geneva. _______2007c. Trade and Development Report 2007: Regional Cooperation for Development. New York and Geneva. 36 Economic Report on Africa 2008 Africa and the Monterrey Consensus: Tracking Performance and Progress Growth and Social Development in Africa in 2007 and Prospects for 2008 E conomic performance in Africa continued to improve in 2007.

9 per cent in Gabon in 2007. 5 per cent in Chad. This underscores the need for economic diversification away from the resource-extractive sector, to accelerate and sustain growth. 5%), while a weak business environment inhibited growth in Cameroon. Political instability continued to discourage investment and constrain the provision of essential public services in the Central African Republic. Addressing security problems and achieving high and sustained growth in Central Africa will require substantial investment in infrastructure to induce private sector activity and economic diversification.

0 Angola -5 0 5 10 15 20 25 Source: UN-DESA, October 2007a. 8 per cent in 2006. 1 per cent in 2006. 1). 1 Distribution of fiscal deficits in Africa (42 countries), 2007 Oil countries 8 Non-oil countries 7 3 Non-oil, nonmineral-rich 4 Less than 5% 1 4 2 2 5% to 10% 3 2 1 1 More than 10% 4 1 0 1 Countries with surpluses Countries with deficits Mineral-rich 5 22 7 15 Less than 5% 4 15 3 12 5% to 10% 1 6 4 2 More than 10% 0 1 0 1 13 29 10 19 Total number of countries Source: EIU, October 2007. Note: Due to data limitations, only 42 countries are covered.

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