期刊名称：The Journal of Sustainable Development in Africa (JSDA)
电子版ISSN：1520-5509
出版年度：2009
卷号：11
期号：3
出版社：Institute of Sustainable Development in Africa
摘要：The global events since 2008 seems to suggest that generating the required foreign exchange for
sustained growth in sub-Saharan Africa (SSA), which is important for meeting the MDGs, will be a
mirage. These events include economic slowdown in major advanced countries, financial crisis in
major global financial markets and institutions, and general global credit squeeze. A direct
consequence of these events is the drastic fall in international prices of major primary commodities
that are fuelling growth in Africa. This implies that many SSA countries might witness drastic
swings from fiscal and external current account surpluses to prolong deficits, restricted access to
international (trade) credit and massive reduction in foreign direct investment (FDI) inflows among
other issues. Consequently, we examine the expected channels through which the global financial
and economic crisis can impact on Africa economies, what lessons are (and can be) learnt and
considers possible emergency/short-run policy response as well as desirable regulatory proposals and
long-term responses which should be designed and implemented to ameliorate the impact of the
crises and possibly insulate the sub-continent from future crises. The conclusion is that there is a
strong need for a change in development strategies in SSA
