World Bank Warning on Recession
The World Bank has delivered both a stern warning on the impact of the recession for Africa and a sunny outlook for income and economic growth if actionable steps are taken now.
Chief economist and senior vice-president of the World Bank, Justin Lin who introduced the World Development Report entitled 'Reshaping Economic Geography', said research shows that if infrastructure in Africa can reach just the level achieved by Mauritius, then two percentage points can be added to per capita income.
He warned that Africans must brace for a global economy dropping 2.9 percent this year, catapulting 53 million more people below the poverty line and 30 million into the jobless queues.
To read the article titled, “African incomes can double,” click here.
Chief economist and senior vice-president of the World Bank, Justin Lin who introduced the World Development Report entitled 'Reshaping Economic Geography', said research shows that if infrastructure in Africa can reach just the level achieved by Mauritius, then two percentage points can be added to per capita income.
He warned that Africans must brace for a global economy dropping 2.9 percent this year, catapulting 53 million more people below the poverty line and 30 million into the jobless queues.
To read the article titled, “African incomes can double,” click here.
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<br /> Independent Online
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World Bank Warning on Recession
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