Economic Recovery in Africa : The Paradox of Financial Flows

Development finance is one of the foremost challenges facing African Countries and the international community in the new century. African countries in particular have experience modest economic recovery during the 19990s. Vijay S. Makhan explores these improvements, while describing the "vicious circle" in which the economic structure cannot generate enough savings and export earnings needed to finance the development and mount a sustained assault on poverty.

makhan (assistant Secretary General Of The Organization Of African Unity) Argues That There Is A Good Policy Environment For Implementing The Reforms Demanded By The Proponents Of Neoliberal Globalization And That The Major Thing That Is Holding Africa Back From Achieving Goals Of Poverty Reduction And Other Goals Of Socio- Economic Development Is A Lack Of Overseas Direct Aid And Other Financial Flows To Africa. He Attempts To Demonstrate The Basic Soundness Of The Policy Atmosphere And The Advisability Of Increasing External Support. Nearly Half Of The Text Is Taken Up By Appendices Containing Reproductions Of Documents Of The Oau Related To The Question At Hand. Annotation C. Book News, Inc., Portland, Or

booknews

makhan (assistant Secretary General Of The Organization Of African Unity) Argues That There Is A Good Policy Environment For Implementing The Reforms Demanded By The Proponents Of Neoliberal Globalization And That The Major Thing That Is Holding Africa Back From Achieving Goals Of Poverty Reduction And Other Goals Of Socio- Economic Development Is A Lack Of Overseas Direct Aid And Other Financial Flows To Africa. He Attempts To Demonstrate The Basic Soundness Of The Policy Atmosphere And The Advisability Of Increasing External Support. Nearly Half Of The Text Is Taken Up By Appendices Containing Reproductions Of Documents Of The Oau Related To The Question At Hand. Annotation C. Book News, Inc., Portland, Or (booknews.com)

"African countries experienced a modest economic recovery during the 1990s. But they were also caught in a vicious circle where the existing economic structures could not generate sufficient savings and export earnings to finance their development and thus mount a sustained assault on widespread poverty. Foreign aid has been cut back sharply and the continent receives only a trickle of foreign investment flows. But new policy regimes are now coming into place, and creating the appropriate environment for external financing to make a major difference. Development finance is one of the foremost challenges facing African countries and the international community in the new century."--BOOK JACKET. African countries have experienced modest economic recovery during the 1990s. But these countries are caught in a vicious circle in which the existing economic structure cannot generate enough savings and export earnings needed to finance their development and mount a sustained assault on widespread poverty. Yet foreign aid has been cut back sharply and the continent receives only a trickle of foreign investment flows. New policy regimes are now in place, creating the right environment for external financing to make a major difference. Development finance is one of the foremost challenges facing African countries and the international community in the new century.