Report on economic and social conditions in West Africa in 2010 and outlook for 2011: a decade of the implementation of MDGs achievements and shortfalls

Abstract

In order to gain an understanding of the current challenges facing West Africa,appreciate the constraints that have contributed to the slowdown of its economic and social development, and conduct a valid assessment of its current socio-economic situation, it is imperative to make reference to, and analyse the prevailing international environment. Certain key development challenges come immediately to mind in this regard, such as the food crisis, the energy crisis and the recent financial and economic crisis which shook the entire world through its direct and indirect effects. Further,the development and consolidation of economic relations between Asia and China in particular with the African continent are all important dimensions which require critical review in crafting medium and long term solutions to address the myriad of sub regional challenges. At a time when all attention is focused on the globalization of economies and issues arising from the financial upheaval in the developed countries and their knock-on effects on the rest of the world, the issue of the development outlook for Africa once more assumes a higher level of acuity. The review of socio-economic developments in West Africa in 2010 brings into perspective these developments and attempts to isolate both internal and external issues that should be of priority in seeking to propel the economies of the sub region onto a sustainable growth trajectory.