Enduring poverty and conflict are so stark in Africa that it is sometimes difficult to see what else is happening.
In April 2011, a study published by the Columbia Journalism Review titled “Hiding the Real Africa” documented how easily Africa makes news headlines in the West when a major famine, pandemic, or violent crisis breaks. But less attention is given to positive trends and underlying successes.
In many cases, despite accelerated economic growth over the past 10 years, the rise of a middle class of consumers, and a more dynamic private sector attracting indigenous entrepreneurs, the narrative about Africa has remained focused on the bad news.
That has, fortunately, started to change. This week’s cover story in The Economist, on “Rising Africa”, is testament to that. So too is the just-released December 2011 issue of Finance and Development (F&D) magazine on “Changing Africa: Rise of a Middle Class”, which explores Africa’s potential.
Filed under: Africa, Emerging Markets, Finance, growth, IMF, International Monetary Fund, Low-income countries | Tagged: asset prices, capital flows, commodities, credit booms, economic growth, education, entrepreneurship, euro area, Finance & Development magazine, food and fuel crisis, IMF, iMFdirect, infrastructure, International Monetary Fund, investment, Ngozi Okonjo-Iweala, Nigeria, poverty reduction, private sector, privatization, social protection, South Africa, trade | 4 Comments »
