Transcript View the presentation delivered by speaker Dr. Ousmane Badiane

AGRICULTURAL AND ECONOMC GROWTH RECOVERY IN AFRICA
IN THE CONTEXT OF GLOBAL CRISES
OUSMANE BADIANE
Director for Africa
International Food Policy Research Institute
Sunday, April 10, 2016
AGRICULTURAL AND ECONOMC GROWTH RECOVERY IN AFRICA
IN THE CONTEXT OF GLOBAL CRISES
1
OVERVIEW OF RECENT GROWTH TRENDS IN AFRICA
2
THE IMPLICATIONS OF CHANGING GLOBAL FOOD MARKETS
3
THE IMPACT OF CHANGING GLOBAL FINANCIAL MARKETS
4
EMERGING AGRICULTURAL POLICY DEVELOPMENTS
5
SUSTAINING AND ACCELERATING THE RECOVERY PROCESS
AGRICULTURAL AND ECONOMC GROWTH RECOVERY IN AFRICA
IN THE CONTEXT OF GLOBAL CRISES
1
OVERVIEW OF RECENT GROWTH TRENDS IN AFRICA
2
THE IMPLICATIONS OF CHANGING GLOBAL FOOD MARKETS
3
THE IMPACT OF CHANGING GLOBAL FINANCIAL MARKETS
4
EMERGING AGRICULTURAL POLICY DEVELOPMENTS
5
SUSTAINING AND ACCELERATING THE RECOVERY PROCESS
PRE-CRISIS ERA COINCIDED WITH
LONGEST PERIOD OF SUSTAINED GROWTH SINCE 60S
Agriculture, value added (annual % grow th)
Percent (%)
GDP grow th (annual %)
9
6
3
SOURCE: Badiane 2008: IFPRI Policy Brief No. 9
2006
2004
2002
2000
1998
1996
1994
1992
1990
1988
1986
1984
1982
-3
1980
0
THE GROWTH IS ACCELERATING
AS WELL AS SPREADING GEOGRAPHICALLY
SOURCE: IFPRI / Badiane and Ulimwengu
Data from national account s / UN database: http://data.un.org/Explorer.aspx?d=SNAAMA
THIS IS REFLECTED IN
BETTER PRODUCTIVITY AND TRADE PERFORMANCE
2.5
AGRICULTURAL PRODUCTIVITY
AFRICA
Value of Ag
Inputs
Index (1970=1)
2.0
AFRICAN VS WORLD EXPORTS (VOLUME)
125
120
TFP
115
1.5
110
105
1.0
100
95
2001
2002
2003
2004
2005
Average annual growth rate (%)
6
AGRICULTURAL PRODUCTIVITY
WORLD
5
2003
2000
1997
1994
1991
1988
1985
1982
1979
1976
1973
1970
0.5
World
AFRICAN VS WORLD EXPORTS (VALUE)
maize
4
Africa
rice
160
wheat
150
155
145
140
135
3
130
125
120
2
115
110
105
1
100
95
2001
0
1963
1967
1971
1975
1979
1983
1987
1991
1995
1999
2003
2002
2003
World
2004
Africa
2005
Percent (%)
POVERTY LEVELS HAVE STARTED TO DECLINE
BUT NOT FAST ENOUGH TO MEET MDG1
60
Current
50
MDG target
40
30
20
10
POVERTY HEAD COUNT; $1/DAY
0
1990
SOURCE: IFPRI/Fan. 2007H
1995
2000
2005
2010
2015
AGRICULTURAL AND ECONOMC GROWTH RECOVERY IN AFRICA
IN THE CONTEXT OF GLOBAL CRISES
1
OVERVIEW OF RECENT GROWTH TRENDS IN AFRICA
2
THE IMPLICATIONS OF CHANGING GLOBAL FOOD MARKETS
3
THE IMPACT OF CHANGING GLOBAL FINANCIAL MARKETS
4
EMERGING AGRICULTURAL POLICY DEVELOPMENTS
5
SUSTAINING AND ACCELERATING THE RECOVERY PROCESS
THE GLOBAL FOOD PRICE CRISIS OF 2007-08
800
Corn
Price spike
Wheat
100
Rice
Oil (right scale)
75
400
50
200
25
0
0
Source: J. von Braun; Data from FAO 2009 and IMF 2009.
US$/barrel
US$/ton
600
125
04
20
Oc
t
04
De
20
c
05
Fe
b
20
05
Ap
20
r
05
J
2 0 un e
05
Au
g
20
05
20 Oct
05
De
20
c
06
Fe
b
20
06
Ap
20
r
06
J
2 0 un e
06
Au
g
20
06
20 Oct
06
De
20
07 c
FE
20
07 B
AP
20
R
07
20 JUN
07
AU
20
07 G
OC
20
T
07
DE
20
C
08
FE
20
08 B
AP
R
20
WAS THERE A FOOD PRICE CRISIS IN AFRICA?
ECOWAS Countries
3
2,5
2
1,5
1
0,5
0
Sorghumdawanu
Cowpeadawanu
Source: ReSAKSS West Africa Node
millet bamako
rizdakar
MilletNiamey
WAS THERE A FOOD PRICE CRISIS IN AFRICA?
Food Price Indices
COMESA Countries
160
FAO global food
price index
150
Ethiopia
140
Burundi
130
Kenya
120
Tanzania
110
Madagascar
100
Malaw i
90
Zambia
80
Uganda
70
Mar07
Jul-0
Source: ReSAKSS East Africa Node
7
N ov-
07
Mar08
Rw anda
LONG TERM WORLD FOOD PRICE TRENDS
AND GROWTH RECOVERY IN AFRICA
US$/ton
300
200
100
0
2000
Rice
Oilseeds
2005
2010
Wheat
Soybean
Source: IFPRI / M. Rosegrant (prelim. results with IMPACT-WATER).
2015
Maize
FACTORS BEHIND FOOD PRICE TRENDS
INCOME & POPULATION GROWTH, MEAT AND DAIRY CONSUMPTION
2005/1990 ratios of per capita consumption
India
China
Brazil
Nigeria
Cereals
1.0
0.8
1.2
1.0
Meat
1.2
2.4
1.7
1.0
Milk
1.2
3.0
1.2
1.3
Fish
1.2
2.3
0.9
0.8
Fruits
1.3
3.5
0.8
1.1
Vegetables
1.3
2.9
1.3
1.3
Source: IFPRI/ v. Braun - Data from FAO 2007.
FACTORS BEHIND FOOD PRICE TRENDS
VERY SLOW GROWTH IN FOOD PRODUCTION OVER THE LAST DECADE
Total Million tons
Million tons
1,200
2,000
900
1,600
600
1,200
300
0
800
1999
Wheat
2000
2001
2002
2003
Coarse grains
Source: IFPRI / v. Braun - Data from FAO 2003, 2005-08.
2004
2005
Rice
* Forecast.
2006
2007*
Total (right)
VULNERABILITY OF AGRICULTURE TO GLOBAL MARKET CHANGES
RATIO VALUE AGRIC TRADE TO AGRIC GDP
2000 - 2006
0.7
RATIO VALUE AGRIC TRADE TO AGRIC GDP
2000 - 2006
7.0
ASIA
S. LANKA
CARIBBEAN
0.6
6.0
0.5
5.0
0.4
4.0
0.3
3.0
0.2
2.0
TRINIDAD & T
1.0
0.1
HAITI
INDIA
-
-
Individual Countries
Individual Countries
RATIO VALUE AGRIC TRADE TO AGRIC GDP
2000 - 2006
RATIO VALUE AGRIC TRADE TO AGRIC GDP
2000 - 2006
1.4
1.2
DRC
AFRICA
1
CHILE
S. AMERICA
1.2
1.0
0.8
0.8
0.6
0.6
0.4
0.4
0.2
COLUMBIA
0.2
CAR
0
Individual Countries
NOTES: Agricultural trade is the value of agricultural exports plus value of agricultural imports
SOURCES: Agricultural trade: Food and Agriculture Organization, FOASTAT 2008
Agricultural value added: World Development Indicators, 2008
Individual Countries
AGRICULTURAL AND ECONOMC GROWTH RECOVERY IN AFRICA
IN THE CONTEXT OF GLOBAL CRISES
1
OVERVIEW OF RECENT GROWTH TRENDS IN AFRICA
2
THE IMPLICATIONS OF CHANGING GLOBAL FOOD MARKETS
3
THE IMPACT OF CHANGING GLOBAL FINANCIAL MARKETS
4
EMERGING AGRICULTURAL POLICY DEVELOPMENTS
5
SUSTAINING AND ACCELERATING THE RECOVERY PROCESS
IMPACT OF THE FINANCIAL CRISIS ON AGRICULTURE
THE IMPACT CHANNELS
1
RECESSION – EXPORT DEMAND - TERMS OF TRADE
2
LIQUIDITY TRAP – FDI – REMITTANCES -TRADE CREDIT
3
FOREX AND FISCAL DEFICITS
4
DOMESTIC AND ASSISTANCE POLICY RESPONSES
AG. REVENUES
AG. FINANCE
AG EXPENDITURE / INVESTMENT
SECTOR RESPONSE
IMPLICATIONS OF THE FINANCIAL CRISIS
DEMAND, PRICES, AND AFRICAN EXPORTS
150
100
50
0
102.00%
3500
100
3000
2500
80
2000
60
1500
40
1000
20
500
0
0
108.00%
IMPACT ON OVERALL AFRICAN EXPORTS
4000
Cocoa
2000M1
2000M5
2000M9
2001M1
2001M5
2001M9
2002M1
2002M5
2002M9
2003M1
2003M5
2003M9
2004M1
2004M5
2004M9
2005M1
2005M5
2005M9
2006M1
2006M5
2006M9
2007M1
2007M5
2007M9
2008M1
2008M5
2008M9
2009M1
2009M5
2009M9
200
Cotton
120
Coffee, Cotton , US cents/
pound
250
Coffee, Robusta
101.00%
106.00%
100.00%
104.00%
99.00%
102.00%
IMPACT ON AGRICULTURAL EXPORTS
Recession
98.00%
100.00%
Recession
(decline in demand)
+ stronger Finance
constraints
(+2.66xestimates)
97.00%
+ Finance
constraints (actual
country estimates)
96.00%
95.00%
2007
2008
+ stronger
Finance
constraints
2009
98.00%
+ Finance
constraints
96.00%
94.00%
2007
2010
2011
Source: IFPRI/Estrades and Laborde
Price data from IMF World Economic Outlook
2012
2008
2009
2010
2011
2012
Cocoa, US $/ton
140
Commodity Fuel Index
Food Index
Index of Agricultural Raw Materials
Index of Industrial Inputs
2000M1
2000M5
2000M9
2001M1
2001M5
2001M9
2002M1
2002M5
2002M9
2003M1
2003M5
2003M9
2004M1
2004M5
2004M9
2005M1
2005M5
2005M9
2006M1
2006M5
2006M9
2007M1
2007M5
2007M9
2008M1
2008M5
2008M9
2009M1
2009M5
2009M9
Price Index, 2005= 100
300
TRADE FINANCE RESTRICTION
ANDOVERALL ECONOMIC GROWTH IN AFRICA
0.0%
-0.1%
-0.1%
-0.2%
-0.2%
-0.3%
-0.3%
-0.4%
-0.4%
-0.5%
Base case
Finance constraints (actual country estimates)
Strong
+ case
stronger
Finance constraints (+2.66x actual estimates)
Real GDP, percentage change 2007-2009 related to trade finance restriction
Source: IFPRI/Estrades and Laborde
Page 19
2
4
FDI AND AGRICULTURAL SECTOR GROWTH IN AFRICA
Burkina Faso
Malawi
Mali Mozambique
Rwanda Niger Zimbabwe
Senegal
Chad
Benin
Madagascar
Guinea
Angola
C. Africa Rep.
Zambia
Togo
Gabon
Burundi
Somalia
Congo
Liberia
Mauritania
Mauritius
S. Leone
Gambia
Eritrea
Botswana
Comoros
Eq. Guinea
G. Bissau
Swaziland
Lesotho
Cape Verde
Seychelles
S. Tome and Principe
-4
-2
0
Kenya
Nigeria
Sudan
Algeria
Egypt
Ethiopia
Tanzania
Morocco
South Africa
Ghana
C. Ivoire
Cameroon
Tunisia
Uganda
Congo (DRC)
Djibouti
0
2
4
Log of Net FDI
6
8
Source: IFPRI/Badiane and Ulimwengu
Page 20
10
10
FINANCIAL CRISIS, DEVELOPMENT ASSISTANCE
AND AGRICULTURAL GROWTH
Swaziland
1970-1980
Rwanda
Lesotho
1981-1990
Guinea-Bissau
Cameroon
5
Comoros
Cape Verde
Mauritania
Uganda
Chad
Gambia
Niger
Nigeria
Djibouti
0
5
Liberia
Tanzania
Mozambique
Algeria
Kenya
Namibia
Zimbabwe
Benin Somalia
Congo
Guinea
Sierra Leone Egypt
Morocco
Zambia
C. African Rep.
Burundi
Sudan
Senegal
DRC
Madagascar
Ghana
Angola
B. Faso
Togo
0
Benin
MoroccoMali
Namibia
Angola
Tunisia
B. Faso
Zimbabwe
Tanzania
Kenya
Uganda
Leone
Lesotho
NigeriaSierraBurundi
Somalia
Senegal
Egypt
Algeria
Guinea
Togo
Zambia
DRC
Congo
Swaziland
C.
African
Rep.
Ghana
Cameroon
Madagascar
Chad
Niger
Sudan
Gambia
Rwanda
Malawi
S. T.and Principe
Agricultural growth (%)
Tunisia
C. Ivoire
Malawi
Mali
Comoros
Cape Verde
Djibouti
Mauritania
C. Ivoire
Mozambique
S. T.and Principe
Liberia
-5
-5
Guinea-Bissau
50
100
Per capita aid (us dollar)
10
Sudan
150
0
50
100
150
Per capita aid (us dollar)
200
250
15
0
1991-1999
Liberia
Angola
Nigeria
Sierra Leone
2000-2006
10
S. T.and Principe
0
Burundi
Somalia
Angola
-5
Morocco
Congo
Rwanda
Algeria Niger
Tanzania Mozambique
Egypt Gambia
Ghana
B.
Faso
Guinea
ChadBenin
Cameroon
Djibouti
C.Sudan
African
Rep.
Mali
Comoros
Kenya
Somalia
Namibia
Uganda
Malawi
Tunisia
Madagascar
Guinea-Bissau
Zambia
Togo
Senegal
Liberia
Mauritania
C. Swaziland
Ivoire
Burundi
Lesotho
DRC
Cape Verde
5
5
0
Agricultural growth (%)
B.
Faso
Chad
Malawi
Morocco
Zambia
Benin
Niger
Algeria
Mozambique
Gambia
Ghana
Namibia
Uganda
Tunisia
Togo
Tanzania
Nigeria Zimbabwe
C.Guinea
African Rep.
Egypt
DRC
MaliSenegal Guinea-Bissau Djibouti
Cameroon
Comoros
Kenya
Madagascar
C. Rwanda
Ivoire
Mauritania
Swaziland
Lesotho
Congo
S. T.and Principe
Cape Verde
Zimbabwe
-5
-10
Sierra Leone
0
100
200
Per capita aid (us dollar)
Source: IFPRI/Badiane and Ulimwengu
300
400
0
50
100
150
Per capita aid (us dollar)
200
250
Page 21
(%)
MACROECONOMIC RAMIFICATIONS
OF THE FINANCIAL CRISIS IN AFRICA
6
Africa: Current Account Balance
as Share of GDP
Overall Fiscal Balance, Including Grants (as %
of GDP)
6
5
4
4
3
2
2
1
-2
-4
2010
2009
2008
2007
2006
-2
2005
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
2004
1997-2002
-1
2003
0
0
-3
-6
Private Financial Flows to Africa
External debt, as share of GDP
Source: IMF World Economic Outlook
2010
Inflation, average consumer prices
2009
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
2008
0
2007
10
2006
20
2005
30
2004
40
2003
50
2002
billions of US $
60
50
45
40
35
30
25
20
15
10
5
0
2001
70
Africa: Inflation and External Debt
as Share of GDP
1998-2000
(%)
-4
Page 22
THE IMPACT OF THE FINANCIAL CRISIS
ON GROWTH TRENDS IN AFRICA
8
7
6
Annual Percent Change (%)
5
4
3
2
1
0
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
-1
-2
World
Source: IMF World Economic Outlook
Africa
Page 23
AGRICULTURAL AND ECONOMC GROWTH RECOVERY IN AFRICA
IN THE CONTEXT OF GLOBAL CRISES
1
OVERVIEW OF RECENT GROWTH TRENDS IN AFRICA
2
THE IMPLICATIONS OF CHANGING GLOBAL FOOD MARKETS
3
THE IMPACT OF CHANGING GLOBAL FINANCIAL MARKETS
4
EMERGING AGRICULTURAL POLICY DEVELOPMENTS
5
SUSTAINING AND ACCELERATING THE RECOVERY PROCESS
THE COMPREHENSIVE AFRICA
AGRICULTURE DEVELOPMENT PROGRAMME (CAADP)
PILLAR
FRAMEWORKS
SECTOR
COMPACTS
KNOWLEDGE
SYSTEMS
STRATEGIC ISSUES
LT INVEST. OPTIONS
BENCHMARKING
SUCCESS FACTORS
COMMITMENTS
-SECTOR POLICIES
- BUDGET POLICIES
- DEV. ASSISTANCE
PEER REVIEW
BEST PRACTICES
POLICY ELEMENTS
SHARED LT FRAMEWORK
FOR ACTION
MUTUAL LEARNING
- POLICY DIALOGUE
DEVELOPMENT
PARTNERSHIP AND
ACCOUNTABILITY
EVIDENCE/OUTCOME
BASED PLANNING AND
IMPLEMENTATION
BETTER POLICY, GROWTH, POVERTY, AND FOOD SECURITY OUTCOMES
Page 25
OBJECTIVES AND OUTCOMES
OF COUNTRY ROUND TABLE AND COMPACT
1. MAKE SURE THAT THE COUNTRY IS ON TRACK TO ACHIEVE
THE CAADP GROWTH AND BUDGETARY OBJECTIVES, IF NOT
OBJECTIVE OF
ROUND TABLES
OUTCOMES OF
ROUND TABLES:
CAADP COMPACT
2. IDENTIFY EVENTUAL GAPS IN TERMS OF SECTOR POLICY,
BUDGETARY, AND INVESTMENT MEASURES
ELABORATION OF A COUNTRY CAADP COMPACT TO GUIDE THE
IMPLEMENTATION OF CAADP IN THE LONG TERM , INCLUDING:
1. COMMITMENTS IN TERMS OF SECTOR POLICIES, PUBLIC
EXPENDITURES, AND DEVELOPMENT ASSISTANCE
2. ESTABLISHEMENT OF PARTNERSHIPS AND ALLIANCES
FOR SUCCESSFUL IMPLEMENTATION OF CAADP
3. CREATION OF A MECHANISM FOR PEER REVIEW AND DIALOGUE
TO TRACK IMPEMENTATION PERFORMANCE AND THE PROGRESS
IN MEETING THE AGREED ON COMMITEMENTS
CREATING THE CONDITIONS
FOR BETTER DEVELOPMENT OUTCOMES
I.
DEVELOPED COMPREHENSIVE AND OBJECTIVE DRIVEN STRATEGY
FRAMEWORK WITH LIMITED SET OF CLEAR TARGETS
II. EVALUATE COUNTRY EFFORTS AGAINST DEFINED TARGETS
SHARED INVESTMENT AND PARTNERSHIP FRAMEWORK
III. SPECIFY ALTERNATIVE ACTION SCENARIOS AND OUTCOMES
BASELINES - MILESTONES - ACTION TARGETS - TOOLS
IV. SET UP BENCHMARKING AND LEARNING MECHANISMS
KNOWLEDGE SYSTEMS INFRASTRUCTURE
V. ESTABLISH POLICY REVIEW AND DIALOGUE PLATFORM
INCLUSIVE FORA AT COUNTRY LEVEL AND BEYOND
AGRICULTURAL AND ECONOMC GROWTH RECOVERY IN AFRICA
IN THE CONTEXT OF GLOBAL CRISES
1
OVERVIEW OF RECENT GROWTH TRENDS IN AFRICA
2
THE IMPLICATIONS OF CHANGING GLOBAL FOOD MARKETS
3
THE IMPACT OF CHANGING GLOBAL FINANCIAL MARKETS
4
EMERGING AGRICULTURAL POLICY DEVELOPMENTS
5
SUSTAINING AND ACCELERATING THE RECOVERY PROCESS
LONG TERM CHALLENGE NO. 1
BRIDGING THE GROWTH GAP TO ACCELERATE POVERTY REDUCTION
100
Actual Poverty Rate in 1990
90
80
(%)
70
60
Target Poverty Rate in 2015
2015 Target Poverty Rate
50
40
30
20
10
Projected 2015 Poverty Rate under CAADP 6% Growth Rate
Togo
Kenya
Ghana
Burkina Faso
Zambia
Niger
Benin
Uganda
Rwanda
Mozambique
Malawi
0
LONG TERM CHALLENGE NO. 2
BRIDGING THE EXPENDITURE GAP TO ACCELERATE GROWTH
100
Actual Poverty Rate in 1990
90
80
(%)
70
60
Target
Poverty
Rate
2015 Target
Poverty
Ratein 2015
50
40
30
20
10
Projected 2015 Poverty Rate under CAADP 6% Growth Rate
Projected Required Spending Growth to Achieve CAADP 6% Growth Rate
Source: Dollar a Day Poverty Rates from World Bank, PovCal Net, 2008 [poverty line $1.25];
Projected CAADP Poverty Rates from various IFPRI country CAADP Growth Simulation Studies
Togo
Kenya
Ghana
Burkina Faso
Zambia
Niger
Benin
Uganda
Rwanda
Mozambique
Malawi
0
THE EXPENDITURE CONVERGENCE AGENDA:
MAXIMIZING SYNERGY BETWEEN GROWTH AND SOCIAL INVESTMENTS
600
500
400
300
200
100
0
Agriculture
Education
Health
Social Security
Sources: Government spending: Global database on public spending, DSGD, IFPRI, 2009; and ODA: OECD, 2008
EFFECT OF 10% INCREASE IN SERVICES EXPENDITURE ON SOCIAL
OUTCOMES, AGRICULTURAL EFFICIENCY, AND POVERTY
HEALTH SERVICES
EDUCATION SERVICES
MEETING THE DOUBLE CHALLENGE
OF GROWTH ACCELERATION AND SOCIAL PROTECTION
BASIC STRATEGIC QUESTIONS
1
HOW TO MAXIMIZE LONG TERM GROWTH WHILE MEETING SHORT TERM
SOCIAL NEEDS
2
HOW TO MAXIMIZE SYNERGY BETWEEN SOCIAL SERVICES AND
PRODUCTIVITY ENHANCING INVESTMENTS
3
HOW TO EXPLOIT GROWTH EXTERNALITIES OF SOCIAL SERVICES
4
HOW TO IMPROVE CONSIDERATION OF GROWTH SYNERGIES
IN BUDGET PLANNING AND NEGOTIATIONS
AGRICULTURAL AND ECONOMC GROWTH RECOVERY IN AFRICA
IN THE CONTEXT OF GLOBAL CRISES
CONCLUSIONS
1
 HAS REMARKABLE RECOVERY COMPENSATED FOR THE 2.5
DECADE ECON. STAGNATION? NO
o STILL LARGE POCKETS OF POVERTY
o PROGRESS TOWARDS POVERTY MDG PICKED UP PACE BUT
NOT ENOUGH FOR MOST
o NEED TO ACCELERATE AND BROADEN GROWTH TO REDUCE
POVERTY FASTER
Page 34
AGRICULTURAL AND ECONOMC GROWTH RECOVERY IN AFRICA
IN THE CONTEXT OF GLOBAL CRISES
CONCLUSIONS
2
 GLOBAL CRISES ARE A THREAT BUT ALSO FULL OF OPPORTUNITIES FOR
AFRICAN ECONOMIES
 AFRICAN ECONOMIES HAVE SHOWN GREATER RESILIENCE THAN DURING
PAST CRISES
 AFRICAN AGRICULTURE IS WELL POSITIONED TO COMPETE AND BENEFIT
FROM LONG TERM GLOBAL PRICE TRENDS
 UNPRECEDENTED CONTINENT WIDE EFFORTS UNDER CAADP TO:
o IMPROVE POLICY PLANNING / IMPLEMENTATION
o RAISE GOVERNMENTS INVESTMENT IN AGRICULTURE.
Page 35
AGRICULTURAL AND ECONOMC GROWTH RECOVERY IN AFRICA
IN THE CONTEXT OF GLOBAL CRISES
CONCLUSIONS
3
 THE RECOVERY OF LAST 15 YEARS HAS CREATED A STRONG FOUNDATION
TO BUILD UPON
 BETTER CONDITIONS FOR HIGHER RETURNS TO INVESTMENTS IN AND
ASSISTANCE TO AFRICA
 UNPRECEDENTED CONTINENT WIDE EFFORTS UNDER CAADP TO:
o
IMPROVE POLICY PLANNING / IMPLEMENTATION
o
RAISE GOVERNMENTS INVESTMENT IN AGRICULTURE
o
AND SUSTAIN / DEEPENTHE RECOVERY PROCESS
Page 36