Business Intelligence

The Global Financial Crisis And Development: Whither Africa?

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Executive Summary

The global economic crisis beginning in 2008 has come at a very inopportune time for Africa. Sub-Saharan Africa (SSA) appeared to be on a march toward real economic and human progress, following the dismal performance of the 1980s and early 1990s. Economic growth had resurged since the mid-1990s, and was above the world average at the beginning of the early twenty-first century. Poverty had also declined considerably from their heights of the mid-1990s, rivaling the record over the same period for South East Asia and India, for instance.

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