After decades of famine, grinding poverty, colossal debts and enormous slum-growth, Africa is indisputably the worst casualty of economic globalization. As the region takes the further brunt of man-made climate change, the rich nations hold a moral responsibility to reorder economic priorities and coordinate a massive transfer of resources to the impoverished continent.
"2006 will help clarify whether the compassionate concern for the African continent, worn like a badge by western leaders last year, is a true determinant of Africa policy, or whether it merely masked other, more 'strategic' and less 'benevolent' impulses and interests."
The International Monetary Fund expects production in Sub Saharan Africa to increase by almost six percent in 2006. The growth rate is higher than at any time in the last thirty years, and the performance is not isolated but continues a trend towards accelerating growth. It is, moreover, not solely the poorest economies who are growing rapidly, or oil producers, although both of these groups are benefiting. It is also countries such as South Africa and Kenya for whom the largest economic management problem is not just ending civil conflict, a problem all too common in the continent.
The large inflow of foreign direct investment (FDI) into Africa since 2000 looks good on paper but is unlikely to deliver lasting benefits to Africans according to a United Nations report.