Discussion forum on the "problematique of financing development in Africa" : an issue paper

Abstract

The problems of financing the development process in Africa have in recent years been compounded by a number of adverse factors. These have included the collapse of commodity prices for a number of primary products exported by African countries; the escalation of the external debt burden; reduced real resource flows to African countries and a shift in its composition; poor performance of economies of industrialized countries as well as restricted access to markets of industrialized countries because of non-tariff barriers. Furthermore, the poor performance of most African economies during the last decade made mobilization of domestic savings more difficult