International financial and monetary issues: implications for Africa's trade and development

Abstract

There was the growth rate of economic activity during the second half of the 1960's , Real gross domestic product of developing African countries grew at an annual rate of 4.8 per cent between 1960 and 1965 and 4.0 per cent between 1965 and 1969. The rate achieved between 1968 and 1969 was 3.8 per cent. Since the achievements of the immediate past under, normal circumstances are good indicators of what may happen in the immediate future, such a deceleration naturally has grave implications, for the Second United Nations Development Decade. This trend contrasts sharply with the one found in other developing regions. It is against this background that African countries are participating in discussions on international co-operation in the financial and monetary fields,