Issue for the memorandum to the President of the World Bank

Abstract

Africa's economic performance in 198? has in general not been better than during the year 1966 and continues to "be a matter of great concern,^ The international economic environment is still not conducive to economic /growth especially in so far as African countries are concerned., Official Development Assistance (ODA) on which the majority of African countries depend for the financing of their development programmes, has been stagnant and in some cases has even decreased in real terns. Private credits have almost dried up, because of the debt crisis that has seriously eroded the creditworthiness of many African countries.