Grim news today from the World Bank about Africa. The Voice of America reports that the bank is predicting that growth on the continent will fall to about half what it's been over the past few years.
"Remember that this continent, until a decade ago, was growing at a negative rate of growth on the average. At most it would grow at two percent," Ezekwesili said. "In the last decade or so, this same continent was growing at a rate of 5.8 percent."
Ezekwesili says the downturn is likely to dry up the important private-sector investments that have seen huge advances in telecommunications infrastructure that have led Africa's impressive economic performance.
With a president whose father was born in Africa, I imagine we'll see a fairly tough push on Obama to help out economically. Whether he can or not, taking into account the situation in the US, is yet to be seen.
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