Overcoming the middle-income trap and achieving sustainable development

Abstract

This report, titled "Overcoming the Middle-Income Trap and Achieving Sustainable Development," explores the challenges faced by African nations in escaping the middle-income trap, a situation where countries experience stagnation in income and economic growth after reaching middle-income status. It highlights the diverse nature of Africa's middle-income countries, which, despite significant contributions to the continent's economic progress, grapple with issues such as vulnerability, inequality, and limited access to finance. The report emphasizes the critical role of climate change as an exogenous factor impacting economic development and outlines the need for comprehensive strategies that leverage global efforts to combat climate change. Key recommendations include fostering innovation, enhancing infrastructure, and mobilizing private sector investment to support sustainable development.