Africa’s Future and the World Bank’s Support to It

Sub-Saharan Africa in 2011 has an unprecedented opportunity for transformation and sustained growth. Until the outset of the global economic crisis, economic growth had averaged 5 percent a year for a decade. Even though growth declined as a consequence of the global financial crisis, it has rebounded in 2010 thanks to prudent macroeconomic policies and financial support from multilateral agencies. Progress on the Millennium Development Goals (MDGs) has been sufficiently rapid that several countries (such as Ethiopia, Ghana, and Malawi) are likely to reach most of the goals, if not by 2015 then soon thereafter. Africa’s private sector is increasingly attracting investment, and the climate for market-oriented, pro-poor reforms is proving robust…

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