2012 Economic Report on Africa (ERA) emphasizes region's role in propelling global growth

Abstract

The 2012 edition of the Economic Report on Africa (ERA) launched here today contends that Africa has the potential to be a pole of global growth and calls for unleashing the continent’s full potential to fully play that role, according to the Information and Communication Service of ECA. Released in English and French, this year’s ERA, titled Unleashing Africa’s Potential as a Pole of Global Growth, examines recent developments in the world economy and implications for Africa and analyses the economic and social prospects for 2012. In remarks made at today’s launch, Mr. Abdalla Hamdok, the Deputy Executive Secretary of the ECA said, “If Africa is to become a bona fide pole for global growth it needs to sustain its current growth momentum for another 2 decades and implement bold and innovative reforms on the political and economic governance front.” “Africa needs to be prepared to reap the potential benefits of this momentum,” he stressed, and outlined among the report’s many recommendations, the need for structural reforms, as well as infrastructure, innovation and value chains as some of the key areas that need attention.