African economy continues to grow substantially

The past four years, the economic growth fluctuated between 6 and 6,9 percent and this year too, the growth would come to 6,5 percent. This is the assessment of the International Monetary Fund, who admits to be a bit too optimistic in his prospects.
Africa south of the Sahara, has the highest growth figures since decades during the last three or four years. Even countries without oil or other mineral wealths such as copper or gold, have grown the last years with an average of five percent. Vibe Christensen, IMF-director responsible for the succession of Africa, says that the great achievements were partially caused by healthier economic, monetary and financial politics. Moreover, foreign investmenst play their part. In 2006, the private capital which flew to black Africa, exceeded the official development funds for the first time.
According to the IMF, the food prices which were the trigger for troubles since the end of last year in countries like Burkina-Faso, Mauretania, Cameroon and Senegal, will keep on rising. However, the IMF underlines that closing borders or freezing the food prices will create pernicious effects on long-term.
At the same time, the IMF realizes that a lot of countries don’t have the administration to give subsidies specific for food for the poor, not to mention having the money to help recover the national agriculture. As this is the only long term strategy which works. Today, only five of 48 countries in Sub-saharan Africa can provide in their own food supply. According to the Food and Agricultural Organization of the UN, a fourth of the exhausted farmland, is located in Africa and since the eighties the policy of agriculture deteriorated. According to critics, largely the World Bank and the IMF hold responsible for this, who is now – oh irony – pleading for a sort of Green Revolution in Africa.(sa)