Ernest Harsch writes in African Renewal:
As economic growth slows worldwide and some major industrial economies have gone into recession, it has become clearer that the repercussions of the global financial crisis will be felt throughout Africa’s “real economy” — beyond the narrow realm of stock trading. Dwindling financial remittances from Africans working abroad, lower world prices for Africa’s exports, scarcer and more costly commercial credit and less generous flows of foreign aid will inevitably dampen productive activity across the continent...[continue reading]
via African Loft
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