Conclusion

Abstract

This book has brought the economic recovery of the mid-1990s in Africa into focus to illustrate the inadequacy of international support for dealing with the region’s deep-rooted and long-standing economic difficulties. The recovery itself was not only brief in duration but also limited in the depth and scope of its impact on African economies. It was not supported by a strong investment performance that could lead to sustainable change in the underlying structure of African economies. Much of the resumption of growth in real terms during this period was due largely to good weather and a temporary surge in export receipts. A 25 per cent increase in non-oil commodity prices from 1993 to 1996 was a major factor in the increase in export earnings. It is important to note that relative political stability, and reforms in governance and economic policy in most of Africa’s 54 countries also provided an appropriate environment for economic recovery and its sustenance.