Transcript Presentation-How Can Africa Weather the Crisis by OECD

23 April 2009
How Can Africa Weather the Crisis?
Javier Santiso
Director
OECD Development Centre
Africa Forum, Paris
5 June, 2009
UNECA
DEV
A policy tank for a better world
OECD members
Non-OECD members
2009 - 23 members
2009 - 15 members
Egypt
Morocco
South
Africa
Mauritius
India
Romania
Thailand
Vietnam
Brazil
Colombia
Chile
Israel
Peru
Costa Rica
Indonesia
AfDB
(Observer)
AEO
Measuring Africa’s economies since 2001
• Comprehensive, independent analysis
• Short-term macroeconomic forecasts
• Special annual sectoral focus
1. Economic overview & annual thematic focus
2006: Transport
2007: Water and sanitation
2008: Technical & vocational skills
2009: Innovation & ICT
2. 47 country chapters
3. Statistical annex and indicators
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Real GDP Growth %
Global context Africa is still growing fast but…
10
8
6
4
2
0
-2
-4
-6
2000
2001
2002
2003
2004
2005
2006
Emerging and developing economies
Source: OECD Development Centre / African Development Bank, 2009
Note: the African Economic Outlook is a joint product of the AfDB, the OECD Development Centre and the UNECA.
2007 2008(e) 2009(f) 2010 (f)
Africa
OECD
Policies 1
OECD countries must not forget Africa
Donors must:
• Commit to aid, especially in times of crisis, but also
• Leverage the countercyclical properties of aid
• Work together to minimize aid fragmentation
to maximize aid effectiveness
DAC members' net ODA 1990 – 2007
DAC Secretariat simulations of net ODA to 2008 and 2010
Source: OECD DAC / DCD, 2008
Policies 2
The emerging world is not forgetting Africa
Significant Chinese and Indian investments in African
infrastructure, up to April 2008
USD billion
150
China-Africa trade
100
50
0
Source: OECD Development Centre, based on China Mofcom, 2009
India
China
15.0
Real GDP growth in brics
10.0
Brazil
China
5.0
India
0.0
Source: OECD Development Centre, based on UNCTAD, Nepgen and Jansson 2009
2007
-5.0
2008
2009
2010
Russia
Policies 3
Africa must rely on itself to build up its future
USD billion
Net capital flows to emerging economies
1,000
800
600
400
200
0
-200
2002
2003
Direct investment
2004
2005
Portfolio equity
2006
Banks
2007
non-bank debt
2008e
2009f
Official flows
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AfricanEconomicOutlook.org