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African Economic Outlook -:HSTCQE=U][ZWY: Sourceoecd@Oecd.Org African Economic Outlook 2010 “Every year, we welcome the African Economic Outlook (AEO) for its rigorous and objective analysis of the continent's prospects. This year's edition will be especially valuable as everyone wants to know African how Africa will emerge from the global economic crisis. Since under almost any scenario Africa will face a fi nancing gap, the special study on public resource mobilisation and aid is particularly timely.” Mr. Shanta Devarajan, Chief Economist, Africa Region, World Bank Economic Outlook “The African Economic Outlook is widely recognised to be an invaluable resource for economic and fi nancial research on the region due to its unique combination of reliable and timely data with a realistic appraisal of future trends. The policy focus of the 2010 edition is particularly useful in the light of current international and regional discussions on both tax co-operation and aid architecture. This joint initiative between the OECD, ADB and UN sets the benchmark for other intergovernmental agencies.” Mr. Valpy FitzGerald, Professor, Oxford Department of International Development “I am happy to say that the African Economic Outlook is one of the key references on the progress and development challenges facing Africa. The fi eld of taxation has long been a diffi cult challenge in view of ineffective tax systems in many African countries. This comes at a time when Africa has to mobilise its domestic resources to fi nance development. Meanwhile, Egypt has undertaken a thorough reform of its tax structure and administration, with positive results in terms of increased revenue and greater equality in sharing tax burden.” H.E. Mrs. Fayza Aboulnaga, Egyptian Minister of International Co-operation “As one of the few resources that offers such comprehensive, measurable and strategic fi ndings, both at a country and regional level, the AEO has provided Microsoft valuable insight to broaden engagement with local stakeholders as well as international organisations. The AEO gives us tools necessary to continue developing long-term public private partnerships that are vital in solving the major challenges of the continent today.” Dr. Cheick Diarra, Chairman for Africa, Microsoft Corporation African Economic Outlook The full text of this book is available on line via these links: www.sourceoecd.org/emergingeconomies/9789264086524 www.sourceoecd.org/development/9789264086524 Those with access to all OECD books on line should use this link: www.sourceoecd.org/9789264086524 SourceOECD is the OECD online library of books, periodicals and statistical databases. For more information about this award-winning service and free trials ask your librarian, or write to us at [email protected]. With the financial assistance CENTRE DE DEVELOPMENT DÉVELOPPEMENT CENTRE of the European Union 2010 www.oecd.org www.oecd.org/dev ISBN 978-92-64-086524 -:HSTCQE=U][ZWY: www.oecd.org/publishing www.africaneconomicoutlook.org 41 2010 03 1 P African Economic Outlook 2010 CENTRE DE DEVELOPMENT DÉVELOPPEMENT CENTRE AFRICAN DEVELOPMENT BANK DEVELOPMENT CENTRE OF THE ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT The OECD is a unique forum where the governments of 31 democracies work together to address the economic, social and environmental challenges of globalisation. The OECD is also at the forefront of efforts to understand and to help governments respond to new developments and concerns, such as corporate governance, the information economy and the challenges of an ageing population. The Organisation provides a setting where governments can compare policy experiences, seek answers to common problems, identify good practice and work to co-ordinate domestic and international policies. The OECD member countries are: Australia, Austria, Belgium, Canada, Chile, the Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Japan, Korea, Luxembourg, Mexico, the Netherlands, New Zealand, Norway, Poland, Portugal, the Slovak Republic, Spain, Sweden, Switzerland, Turkey, the United Kingdom and the United States. The European Commission takes part in the work of the OECD. OECD Publishing disseminates widely the results of the Organisation’s statistics gathering and research on economic, social and environmental issues, as well as the conventions, guidelines and standards agreed by its members. * * * The Development Centre of the Organisation for Economic Co-operation and Development was established by decision of the OECD Council on 23 October 1962 and comprises 24 member countries of the OECD: Austria, Belgium, Chile, the Czech Republic, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Korea, Luxembourg, Mexico, the Netherlands, Norway, Poland, Portugal, Slovak Republic, Spain, Sweden, Switzerland, Turkey and the United Kingdom. In addition, the following non-OECD countries are members of the Development Centre: Brazil (since March 1994); India (February 2001); Romania (October 2004); Thailand (March 2005); South Africa (May 2006); Egypt, Israel and Viet Nam (March 2008); Colombia (July 2008); Indonesia (February 2009); Costa Rica, Mauritius, Morocco and Peru (March 2009) and the Dominican Republic (November 2009). The Commission of the European Communities also takes part in the Centre’s Governing Board. The Development Centre, whose membership is open to both OECD and non-OECD countries, occupies a unique place within the OECD and in the international community. Members finance the Centre and serve on its Governing Board, which sets the biennial work programme and oversees its implementation. The Centre links OECD members with developing and emerging economies and fosters debate and discussion to seek creative policy solutions to emerging global issues and development challenges. Participants in Centre events are invited in their personal capacity. A small core of staff works with experts and institutions from the OECD and partner countries to fulfil the Centre’s work programme. The results are discussed in informal expert and policy dialogue meetings, and are published in a range of high-quality products for the research and policy communities. The Centre’s Study Series presents in-depth analyses of major development issues. Policy Briefs and Policy Insights summarise major conclusions for policy makers; Working Papers deal with the more technical aspects of the Centre’s work. For an overview of the Centre’s activities, please see www.oecd.org/dev The opinions expressed and arguments employed in this publication are the sole responsibility of the authors and do not necessarily reflect those of the OECD, its Development Centre or the governments of their member countries; the African Development Bank; the European Commission; the Economic Commission for Africa or the Secretariat of the African, Caribbean and Pacific Group of States or its member states. Also available in French under the title : PERSPECTIVES ÉCONOMIQUES EN AFRIQUE © OECD, African Development Bank (2010) You can copy, download or print OECD content for your own use, and you can include excerpts from OECD publications, databases and multimedia products in your own documents, presentations, blogs, websites and teaching materials, provided that suitable acknowledgment of OECD as source and copyright owner is given. All requests for public or commercial use and translation rights should be submitted to [email protected]. Requests for permission to photocopy portions of this material for public or commercial use shall be addressed directly to the Copyright Clearance Center (CCC) at [email protected] or the Centre français d’exploitation du droit de copie (CFC) [email protected]. 2 THE AFRICAN DEVELOPMENT BANK GROUP The African Development Bank Group is a regional multilateral development finance institution the members of which are all of the 53 countries in Africa and 24 countries from Asia, Europe, North and South America. The purpose of the Bank is to further the economic development and social progress of African countries, individually and collectively. To this end, the Bank promotes the investment of public and private capital for development, primarily by providing loans and grants for projects and programmes that contribute to poverty reduction and broad-based sustainable development in Africa. The non-concessional operations of the Bank are financed from its ordinary capital resources. In addition, the Bank’s soft window affiliates – the African Development Fund and the Nigeria Trust Fund – provide concessional financing to low-income countries that are not able to sustain loans on market terms. By the end of 2009, the African Development Bank Group cumulatively approved 3 414 loans and grants for commitments of close to UA 52.26 billion (approximately USD 81.93 billion). The commitments were made to 53 regional member countries and institutions to support development projects and programmes in agriculture, transport, public utilities, industry, education and health services. Since the mid-1980s, a significant share of commitments has also gone to promoting economic reform and adjustment programmes that help to accelerate socio-economic development. About 69.3% of the total Bank Group commitments were financed on non-concessional terms, while the balance benefited from concessional financing. ECONOMIC COMMISSION FOR AFRICA The Economic Commission for Africa (ECA) was established by the Economic and Social Council (ECOSOC) of the United Nations (UN) in 1958 as one of the
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