Department Key

During the last decade, Africa as a continent witnessed strong economic and social gains due mainly to improved macroeconomic management at country level and favorable conditions in the global market. The smooth continuation of these economic and social gains has been seriously threatened by the global financial crisis that hit the world in 2008, indirectly impacting African economies through such channels as the decline in global demand and in financing inflows. Many African economies have struggled to withstand the impacts of the crisis and avoid further decline in their economies.