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11-14-2007, 12:22 PM
<H1>African growth rates catching up with rest of world: World Bank
6 hours ago
MIDRAND, South Africa (AFP) — Growth rates in sub-Saharan African economies are finally catching up with the rest of the world after lagging behind for the last three decades, a World Bank report said Wednesday.
Long periods of decay and stagnation in 1970s, 80s and early 90s have now been replaced by steady growth which will help the continent win the battle against poverty, said the report which was released near Johannesburg.
"Over the past decade, Africa has recorded an average growth rate of 5.4 percent which is at par with the rest of the world," said Obiageli Ezekwesili, World Bank vice-president for Africa.
"The ability to support, sustain and in fact diversify the sources of these growth indicators would be critical not to Africa's capacity to meet (United Nations poverty targets) but also to becoming an exciting investment destination for global capital."
The continent's overall economic performance was helped in large part by the rise in revenue from oil exporters such as Equatorial Guinea which saw Gross Domestic Product grow by 30.8 percent between 1996 annd 2005, while Angola saw a rise of 8.5 percent in GDP during the same period.
John Page, the World Bank's chief economist for Africa, said the figures showed how "for the first time in three decades, they (African economies) are growing in tandem with the rest of the world".
While resource-rich countries were benefitting from a rise in global prices, countries that were not blessed with big reserves were also peforming well.
"Leading the way are the oil and mineral exporters, thanks to high prices," said Page. "But 18 non-mineral economies, with 36 percent of sub-Saharan people, have also been doing well."
Oil exports grew from 16.7 percent in 2003 to 21.6 in 2004, to 19.2 in 2005 but fell to 13.5 last year, according to the report. Non-oil exports inched from 4.5 percent in 2003 to 7.1 last year.
Page told reporters at the unveiling of the report that greater stability and improvements in governance across the continent had been a major factor in enabling countries to take advantage of global economic growth.
"Volatility in the growth of African economies between 1975 and 2005 was far higher than in any other region of the world. Accelerations in growth during that period was usually followed by collapses," he said.
"But since 1995, African countries have learnt to avoid growth collapses."
Speaking about the situation in Zimbabwe, where annual inflation is now nearly 8,000 percent, Page said solutions could not be imposed from outside.
"The people of Zimbabwe and its government will have to to come to a conclusion on how to resolve their economic problems," he told AFP.
"But we in the Wold Bank and the international community are prepared to assist once the government has decided on how to deal with the problem."
The World Bank report comes a week after a report by its sister institution, the International Monetary Fund, said that sub-Saharan Africa was enjoying its strongest economic growth and its lowest inflation in more than three decades.
</H1>source (http://afp.google.com/article/ALeqM5hMKq3nIuWU4xg7FnMRWtfYp6t6Vw)
Some Interesting Facts About Sub Saharan Africa
http://web.worldbank.org/shared/images/shim.gifhttp://web.worldbank.org/shared/images/shim.gifhttp://web.worldbank.org/shared/images/shim.gif
Source: Africa Development Indicators (ADI) 2007 (http://www.worldbank.org/afr/stats)
More than 35% of Africans live in sustained-growth economies that have grown at more than 4% a year for ten years.
In 1975-2005 the GDP per capita growth (PPP) was 0.70%; in 1995-2005 it was 1.88%.
During accelerated growth periods the region grew 3.6% a year (per capita PPP), but shrank –2.7% during periods of growth collapses.
In 1975-2005, the probability of observing growth acceleration and deceleration were 0.25 and 0.22, respectively. In 1995-2005, these probabilities were 0.42 and 0.12.
Exports rose from $182 billion in 2004 to $230 billion in 2005, a 26% rise.
Crude oil comprises more than half of total Africa’s exports.
In two thirds of SSA countries, one or two products are responsible for at least 60% of the country’s total exports.
On average, the merchandise export within trade blocs is 6% of total bloc exports.
Growth volatility is five times higher in SSA than that observed in low and middle income countries, as given by the coefficient of variation of GDP per capita growth.
In 2005 the richest 10% of African countries had 18.5 times the GDP per capita of the poorest 10%, from 10.5 times in 1975.
In 2005, 60.5% of total net foreign direct investments in SSA went to oil exporter countries.
South Africa’s and Nigeria’s GDP comprise 54% of total SSA’s GDP.
South Africa has SSA’s largest real GDP ($160.8 billion); the smallest is Guinea Bissau ($213 million).
The Seychelles have SSA’s highest GNI per capita ($6,666); Burundi has the lowest ($105).
In Guinea-Bissau, the agriculture value-added as percentage of GDP is 59.2%; in Botswana it is 1.8%.
The largest population in SSA is 131.5 million ( Nigeria); the smallest is Seychelles (0.1 million).
It takes 14 days to start a business in the Central African Republic, and 233 days in Guinea Bissau. (IDA10).
In the 2006/7 Doing Business Indicators, Mauritius, South Africa, Namibia, and Botswana were ranked among the top third best countries to do business, but the average rank of African countries was 136 among 178 countries.
Access to finance, infrastructure, institutions, and skills are the constraints most often reported as “major” or “very severe” by entrepreneurs.
It takes 7% of GNI per capita to start a business in South Africa and 1195 per cent in Sierra Leone. (IDA 9)
The average CPIA score in 2006 was 3.2, from 2.8 in 1996, and 27 of 36 countries evaluated in both years improved their scores.
The best CPIA ratings in 2006 were in macroeconomic management and trade policy.
Congo Republic receives the highest net ODA per capita ($362.3); Cote d’Ivoire receives the lowest ($6.6).
South Africa uses the most electric power per person (4,884.8kW/h); Ethiopia uses the least (32.7 kW/h).
Burundi has the highest proportion of women in its labor force (90.5% 2005); Sudan has the lowest (22.5%).
Niger has the highest proportion of men in its labor force (95.1%); Namibia has the lowest (62.7%).
In South Africa, the poorest 20 per cent have 3.5% of national consumption; in Ethiopia they have 9.1%. (MDG 1).
Thirty three percent of children who start first grade reaches grade five in Chad; in Mauritius 97% reach fifth grade. (MDG 2).
The lowest net primary enrolment ratio is found in Djibouti (33.3%); the highest is in Sao Tome and Principe (96.7 per cent). (MDG 2).
In Swaziland more than one in every three 15-49 year olds has contracted HIV (33.4%); the rate is six in every thousand in Mauritania.
Mauritius has the highest life expectancy (73 years); Botswana has the lowest (35 years).
In the last decade Rwanda and Uganda have made the greatest gains in live expectancy: 12 and 7 years respectively. Conversely, life expectancy has decreased 21 years in Botswana, 17 years in Lesotho, and 16 years in Swaziland.
The Seychelles have the highest adult literacy rate (92%); Mali and Burkina Faso have the lowest (24%).
In Seychelles 92% of women are literate; the figure is 13% for Chad and 15% for Niger.
In Mauritius there are 22 children per primary school teacher; there are 72 in Ethiopia.
Mauritania has the highest gross enrolment rate in secondary education (88%); Namibia has the lowest (7%).
In Sierra Leone two women die for every 100 live births; in Mauritius 24 die per 100,000 live births. (MDG 5)
In Burundi, 56.8% of children under the age of 5 are short for their age; in Gambia it is 19.2%.
In South Africa, 2.5% of population are below the minimum dietary energy consumption; in Eritrea, 75% are below.
Nearly one child in two under the age of five is underweight in Burundi (45.1%); in Swaziland it is one in 10. (MDG 4)
In Ethiopia, 22% of the population has access to a safe source of water. In Mauritius, it is 100%. (MDG 7)
South Africa has 724.3 mobile phones per 1000 people; Ethiopia has the least with 5.8 per 1000 people.
In Chad, 9% of the population has access to improved sanitation facilities; in Mauritius 94% have such access.
In Democratic Republic of Congo, Ethiopia and Niger 2 persons out of a thousand are Internet users; there are 249 in every thousand people in Seychelles, which also has 189 computers per 1000 people. (MDG 8).
In 2004 the poverty headcount ratio at $1 a day was 41% of population from 47% in 1990.
In South Africa 10.7% of the people live under $1 per day (PPP); 70.8% do so in Nigeria. (MDG 1, IDA 1)
In Sierra Leone 165 out of 1,000 children die before the age of one; in Seychelles the rate is 12 per 1,000. (MDG 4)
In Sierra Leone 282 children per 1,000 die before the age of five; in Seychelles, the rate is 13 per 1,000. (MDG 4, IDA 2)
Skilled personnel attend 5.7% of births in Ethiopia; they attend 99.2% of births in Mauritius. (MDG 5, IDA 4)
Liberia has three phone lines per 1,000 people (0.28); the Seychelles has 93 per 100 people. (MDG 8, IDA 8)
source (http://web.worldbank.org/WBSITE/EXTERNAL/COUNTRIES/AFRICAEXT/0,,contentMDK:20563739~menuPK:1613741~pagePK:146736~piPK:146830~theSitePK:258644,00.html) - World Bank
6 hours ago
MIDRAND, South Africa (AFP) — Growth rates in sub-Saharan African economies are finally catching up with the rest of the world after lagging behind for the last three decades, a World Bank report said Wednesday.
Long periods of decay and stagnation in 1970s, 80s and early 90s have now been replaced by steady growth which will help the continent win the battle against poverty, said the report which was released near Johannesburg.
"Over the past decade, Africa has recorded an average growth rate of 5.4 percent which is at par with the rest of the world," said Obiageli Ezekwesili, World Bank vice-president for Africa.
"The ability to support, sustain and in fact diversify the sources of these growth indicators would be critical not to Africa's capacity to meet (United Nations poverty targets) but also to becoming an exciting investment destination for global capital."
The continent's overall economic performance was helped in large part by the rise in revenue from oil exporters such as Equatorial Guinea which saw Gross Domestic Product grow by 30.8 percent between 1996 annd 2005, while Angola saw a rise of 8.5 percent in GDP during the same period.
John Page, the World Bank's chief economist for Africa, said the figures showed how "for the first time in three decades, they (African economies) are growing in tandem with the rest of the world".
While resource-rich countries were benefitting from a rise in global prices, countries that were not blessed with big reserves were also peforming well.
"Leading the way are the oil and mineral exporters, thanks to high prices," said Page. "But 18 non-mineral economies, with 36 percent of sub-Saharan people, have also been doing well."
Oil exports grew from 16.7 percent in 2003 to 21.6 in 2004, to 19.2 in 2005 but fell to 13.5 last year, according to the report. Non-oil exports inched from 4.5 percent in 2003 to 7.1 last year.
Page told reporters at the unveiling of the report that greater stability and improvements in governance across the continent had been a major factor in enabling countries to take advantage of global economic growth.
"Volatility in the growth of African economies between 1975 and 2005 was far higher than in any other region of the world. Accelerations in growth during that period was usually followed by collapses," he said.
"But since 1995, African countries have learnt to avoid growth collapses."
Speaking about the situation in Zimbabwe, where annual inflation is now nearly 8,000 percent, Page said solutions could not be imposed from outside.
"The people of Zimbabwe and its government will have to to come to a conclusion on how to resolve their economic problems," he told AFP.
"But we in the Wold Bank and the international community are prepared to assist once the government has decided on how to deal with the problem."
The World Bank report comes a week after a report by its sister institution, the International Monetary Fund, said that sub-Saharan Africa was enjoying its strongest economic growth and its lowest inflation in more than three decades.
</H1>source (http://afp.google.com/article/ALeqM5hMKq3nIuWU4xg7FnMRWtfYp6t6Vw)
Some Interesting Facts About Sub Saharan Africa
http://web.worldbank.org/shared/images/shim.gifhttp://web.worldbank.org/shared/images/shim.gifhttp://web.worldbank.org/shared/images/shim.gif
Source: Africa Development Indicators (ADI) 2007 (http://www.worldbank.org/afr/stats)
More than 35% of Africans live in sustained-growth economies that have grown at more than 4% a year for ten years.
In 1975-2005 the GDP per capita growth (PPP) was 0.70%; in 1995-2005 it was 1.88%.
During accelerated growth periods the region grew 3.6% a year (per capita PPP), but shrank –2.7% during periods of growth collapses.
In 1975-2005, the probability of observing growth acceleration and deceleration were 0.25 and 0.22, respectively. In 1995-2005, these probabilities were 0.42 and 0.12.
Exports rose from $182 billion in 2004 to $230 billion in 2005, a 26% rise.
Crude oil comprises more than half of total Africa’s exports.
In two thirds of SSA countries, one or two products are responsible for at least 60% of the country’s total exports.
On average, the merchandise export within trade blocs is 6% of total bloc exports.
Growth volatility is five times higher in SSA than that observed in low and middle income countries, as given by the coefficient of variation of GDP per capita growth.
In 2005 the richest 10% of African countries had 18.5 times the GDP per capita of the poorest 10%, from 10.5 times in 1975.
In 2005, 60.5% of total net foreign direct investments in SSA went to oil exporter countries.
South Africa’s and Nigeria’s GDP comprise 54% of total SSA’s GDP.
South Africa has SSA’s largest real GDP ($160.8 billion); the smallest is Guinea Bissau ($213 million).
The Seychelles have SSA’s highest GNI per capita ($6,666); Burundi has the lowest ($105).
In Guinea-Bissau, the agriculture value-added as percentage of GDP is 59.2%; in Botswana it is 1.8%.
The largest population in SSA is 131.5 million ( Nigeria); the smallest is Seychelles (0.1 million).
It takes 14 days to start a business in the Central African Republic, and 233 days in Guinea Bissau. (IDA10).
In the 2006/7 Doing Business Indicators, Mauritius, South Africa, Namibia, and Botswana were ranked among the top third best countries to do business, but the average rank of African countries was 136 among 178 countries.
Access to finance, infrastructure, institutions, and skills are the constraints most often reported as “major” or “very severe” by entrepreneurs.
It takes 7% of GNI per capita to start a business in South Africa and 1195 per cent in Sierra Leone. (IDA 9)
The average CPIA score in 2006 was 3.2, from 2.8 in 1996, and 27 of 36 countries evaluated in both years improved their scores.
The best CPIA ratings in 2006 were in macroeconomic management and trade policy.
Congo Republic receives the highest net ODA per capita ($362.3); Cote d’Ivoire receives the lowest ($6.6).
South Africa uses the most electric power per person (4,884.8kW/h); Ethiopia uses the least (32.7 kW/h).
Burundi has the highest proportion of women in its labor force (90.5% 2005); Sudan has the lowest (22.5%).
Niger has the highest proportion of men in its labor force (95.1%); Namibia has the lowest (62.7%).
In South Africa, the poorest 20 per cent have 3.5% of national consumption; in Ethiopia they have 9.1%. (MDG 1).
Thirty three percent of children who start first grade reaches grade five in Chad; in Mauritius 97% reach fifth grade. (MDG 2).
The lowest net primary enrolment ratio is found in Djibouti (33.3%); the highest is in Sao Tome and Principe (96.7 per cent). (MDG 2).
In Swaziland more than one in every three 15-49 year olds has contracted HIV (33.4%); the rate is six in every thousand in Mauritania.
Mauritius has the highest life expectancy (73 years); Botswana has the lowest (35 years).
In the last decade Rwanda and Uganda have made the greatest gains in live expectancy: 12 and 7 years respectively. Conversely, life expectancy has decreased 21 years in Botswana, 17 years in Lesotho, and 16 years in Swaziland.
The Seychelles have the highest adult literacy rate (92%); Mali and Burkina Faso have the lowest (24%).
In Seychelles 92% of women are literate; the figure is 13% for Chad and 15% for Niger.
In Mauritius there are 22 children per primary school teacher; there are 72 in Ethiopia.
Mauritania has the highest gross enrolment rate in secondary education (88%); Namibia has the lowest (7%).
In Sierra Leone two women die for every 100 live births; in Mauritius 24 die per 100,000 live births. (MDG 5)
In Burundi, 56.8% of children under the age of 5 are short for their age; in Gambia it is 19.2%.
In South Africa, 2.5% of population are below the minimum dietary energy consumption; in Eritrea, 75% are below.
Nearly one child in two under the age of five is underweight in Burundi (45.1%); in Swaziland it is one in 10. (MDG 4)
In Ethiopia, 22% of the population has access to a safe source of water. In Mauritius, it is 100%. (MDG 7)
South Africa has 724.3 mobile phones per 1000 people; Ethiopia has the least with 5.8 per 1000 people.
In Chad, 9% of the population has access to improved sanitation facilities; in Mauritius 94% have such access.
In Democratic Republic of Congo, Ethiopia and Niger 2 persons out of a thousand are Internet users; there are 249 in every thousand people in Seychelles, which also has 189 computers per 1000 people. (MDG 8).
In 2004 the poverty headcount ratio at $1 a day was 41% of population from 47% in 1990.
In South Africa 10.7% of the people live under $1 per day (PPP); 70.8% do so in Nigeria. (MDG 1, IDA 1)
In Sierra Leone 165 out of 1,000 children die before the age of one; in Seychelles the rate is 12 per 1,000. (MDG 4)
In Sierra Leone 282 children per 1,000 die before the age of five; in Seychelles, the rate is 13 per 1,000. (MDG 4, IDA 2)
Skilled personnel attend 5.7% of births in Ethiopia; they attend 99.2% of births in Mauritius. (MDG 5, IDA 4)
Liberia has three phone lines per 1,000 people (0.28); the Seychelles has 93 per 100 people. (MDG 8, IDA 8)
source (http://web.worldbank.org/WBSITE/EXTERNAL/COUNTRIES/AFRICAEXT/0,,contentMDK:20563739~menuPK:1613741~pagePK:146736~piPK:146830~theSitePK:258644,00.html) - World Bank