Rich resources drive expansion: Africa, an economically diverse and resource-rich continent, is enjoying its fastest rate of expansion in three decades. But there are considerable variations in the performance of the African Union's 53 member-countries and sub-regions. Moin Siddiqi points out that nearly all share the same challenges.(Economic Outlook)

African Review of Business and Technology,  February, 2005  by Siddiqi, Moin

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ECONOMIC PERFORMANCE LAST year was helped by higher prices of primary commodities of interest for Africa, a robust 8.5 per cent expansion in world trade, significant progress in restoring and/or preserving macroeconomic stability in most countries, good crop-growing conditions and easing external debt burdens through the Heavily Indebted Poor Countries (HIPC) Initiative. Other positive signs were the resolution of intra-regional conflicts in Angola, Burundi, Congo (Brazzaville), the Democratic Republic of Congo (DRC), Liberia, Sierra Leone and, more recently, Sudan.

The peace ...

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