Africa’s economy doing a little better
A new World Bank report says Africa is doing a lot better economically than in the past. Alisa Roth explores which countries within the continent aren't doing as well and whether the region is really back on its financial feet.
TEXT OF STORY
Doug Krizner: A new report today from the World Bank shows the economies of Africa are doing much better than they have in the past. Alisa Roth reports on why, and what it means for the future.
Alisa Roth: The continent’s growth has been averaging more than 5 percent, the new study says, which puts it in a league with much of the rest of the world.
Jorge Arbache is an economist in the World Bank’s African division:
Jorge Arbache: Part of this story is related to commodity price. Part of this story is related to better policies, and part of this story is related to less conflict now than in the past two decades.
Not every country’s done well. Countries like Zimbabwe and Eritrea have not. And some say it’s too early to tell whether Africa’s really on its economic feet yet.
George Ayittay is an economist at American University:
George Ayittay: The question everybody’s asking me is whether that kind of, you know, prosperity will trickle down to the poor. And that’s where the skepticism comes in.
And, Ayittay says, it’s important to consider China, since so much of Africa’s success is due to what he calls China’s colonial interests there.
In New York, I’m Alisa Roth for Marketplace.