For a penetrating insight into the new economic and political realities in the sub-Saharan, read Calestous Juma’s well-written and lucid take on the situation in the usually densely technical journal, Finance & Development, published by the International Monetary Fund. In charting the emergence for the first time of a robust African middle class, Juma, a development expert and a professor at Harvard’s Kennedy School, highlights the importance of the trend for international policy, which long has emphasized the primacy of aiding Africa’s poor: “To the outside world, the symbolism of helping people living on a mere $1 a day had irresistible appeal,” Juma recounts. “But the emphasis on aid did not encourage Africa to aspire to higher economic performance. A change in focus from poverty to gradually growing prosperity represents a deep shift in the perceptions of Africa’s economic future, with profound policy and practical implications.
Jun 06 2012
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