The issue of reviving or maintaining economic growth is a the forefront of policymakers’ minds all around the world. Of course, the policies needed to achieve that differ from region-to-region, country-to-country.
For many countries in Africa, weak infrastructure is an obstacle to raising growth.
In a recent interview with IMF Survey online magazine, Andrew Berg of the IMF’s Research Department (and one of our contributing bloggers) discusses the challenge of overcoming what he calls a “tremendous infrastructure deficit”, an issue that “affects all levels of society and all aspects. It affects health, education and growth.”
The issue is complicated further by the many competing demands these countries face. “We are talking about the need for infrastructure development, but we could be talking about how incredibly important it is to spend on AIDS, health, education, or any number of things,” says Berg.
Filed under: Africa, Economic research, growth, IMF, LICs, Low-income countries, recession | Tagged: foreign borrowing, IMF, iMFdirect, infrastructure, infrastructure gaps, infrastructure investment, International Monetary Fund, private investment, public-private partnerships | Leave a comment »