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Truth is in favor of you and me; for the truth of our enemies whom we have been serving here in the U.S.A. for over 400 years (whom we did not know to be our enemies by nature) is the truth that the Black Man must have knowledge of to be able to keep from falling into the deceiving traps that are being laid by our enemies to catch us in their way which is opposed to the way of righteous of whom we are members. ~ The Honorable Elijah Muhammad

Tuesday, August 7, 2012

African Economies Face Down European Storms: Investment Grows as Aid, Trade Drop

Ambiguous effects

Yet for all this doom and gloom - some real, some predicted - the overall economic outlooks for Africa published by the IMF continue to be positive, even while they point to downside risks. For the sub-Saharan region, output last year grew by 5 percent, with low-income countries and oil exporters among the world's top performers.

Where growth slowed, this was often related to internal troubles - political crisis in Côte d'Ivoire, the Sahelian drought - rather than eurozone effects. The IMF's baseline prediction for 2012 sees output keeping momentum, with natural resource production and West African recovery pushing growth to 5.5 percent overall and some countries poised for phenomenal results - notably Sierra Leone, which should hit a world-leading 34 percent.

"All our evidence, both anecdotal and empirical, is that investors are increasingly interested and active in Africa," says Michael Lalor, director of the Ernst and Young Africa Business Centre. "This is as true for investors from many of the developed markets as it is for the Chinese and Indians. Over the past 4 years, and through the global crisis, FDI projects into Africa from the US and UK, for example, have grown at a compound annual growth rate in excess of 20 percent."  allAfrica.com



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