What NEPAD implies for African policy makers

Abstract

The New Partnership for Africa’s Development (NEPAD) is the framework for fulfilling Africa’s promise of a brighter future. Conceived and developed by African leaders, it has been well received by the international community. It aspires to reverse Africa’s economic decline, end Africa’s marginalization, and consolidate new political and economic systems of responsive and accountable government. The expected outcomes of the implementation of NEPAD are: high and sustainable economic growth; reductions in poverty and inequality; diversified productive activities, enhanced international competitiveness and increased exports; and greater African integration. This Issues Paper explores the implications of NEPAD for African policy makers. Drawing on the content of the NEPAD document, the paper shows that finance and economic development framework will be critical in ensuring the successful implementation of NEPAD. Why? Because sound economic policy-making and execution are preconditions for the renewal of Africa.