What happens in Africa when the economy recovers?
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Last week, the World Bank’s Shanta Devarajan, the Chief Economist of the Africa Region, posted a piece on “why aid to Africa must increase” on his blog. He makes the important point that while people in rich countries regain jobs when the economy regains, the effects of the global recession on Africa will be permanent – it is much more difficult for people in poor countries to regain what they have lost.
In poor African countries, children get pulled out of school—and miss out on becoming productive adults. In some cases, children die before they have a chance to go to school. If the current growth collapse is typical of the ones Africa has experienced in the past, an additional 700,000 African children may die before their first birthday.
He concludes that “by increasing aid to Africa, the international community has a chance to reverse this trend and prevent a temporary shock from having permanent consequences.
In addition to this post, his blog “Africa can… end poverty,” is a great online source where he shares his ideas about the issues of sustainable growth and development in Africa. Check it out!.
-Mikiko Imai
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June 2, 2009 at 7:18 pm
World Bank? How about some serious solutions. Anything but pouring more money at the problem. PLEASE, WE’RE BEGGING!
June 2, 2009 at 7:55 pm
Wasn’t William Easterly, the economist who is most often heard from nowadays as a supporter of Dambisa Moyo, and Dambisa herself, both former economists with the World Bank?
And wasn’t Mr. Easterly at the World Bank when the heinous HIPC conditionalities were put on poor nations when they tried to obtain a loan through the World Bank and which are largely credited with further underdeveloping African economies through those HIPC conditionalities?
What would make the fact that these two spent time at the World Bank okay and the current direction/personnel of the World Bank not acceptable?
Shouldn’t we also be blasting the two of them for contributing to such an “exploitative institution” as the World Bank?
Just trying to tell the truth & keep the facts straight….
All the Best, debbie
June 2, 2009 at 7:59 pm
I’m blasting the World Bank, and it was the same when both Moyo and Easterly were there, I didn’t criticze the individual, I am criticizing the Bank! Pay attention, Debbie, you might learn something.
June 2, 2009 at 8:49 pm
Thanks for clarifying that for me, Ridiyen. I appreciate it. But please don’t underestimate me – I am more “on top of things” than I may appear to you.
Have a good night.
Living Positively, debbie
June 2, 2009 at 9:22 pm
I have no impressions on how you ‘appear’ I’m just commenting on your words, thats all I can do.