Results belie Africa 'success'
Monday 14 March 1994
In its first full-scale report on Africa since many African countries adopted fundamental economic reforms in the 1980s, the World Bank says that out of 29 countries examined in its study published yesterday, 11 had actually deteriorated since adopting a reform programme and nine showed only a small improvement.
The market-orientated reform programmes imposed by donors on African countries have been strongly criticised by some African governments and economists for cutting public spending and impoverishing urban professionals and other waged groups.
Out of almost 300 pages the report only devotes one paragraph to these criticisms, saying that the majority of the poor are probably better off and almost certainly no worse off in countries that have adopted reform.
In its own terms - the establishment of a market- friendly set of incentives to encourage the accumulation of capital - the World Bank says that those who most improved their macroeconomic policies enjoyed the greatest economic improvement.
There has been confusion, says the report, about whether Africa's poor economic record since adjustment programmes were adopted represents 'a failure to adjust or a failure of adjustment'. This confusion has led some opponents of adjustment to criticise it as an alternative to measures supporting long-term development. The resulting sterile debate has led to pessimism among African countries, a pessimism that is unwarranted, says the World Bank.
Adjustment in Africa - Reforms, Results and the Road Ahead. A World Bank Policy Research Report
- 1 Revolutionary lost Caravaggio painting 'Mary Magdalen in Ecstasy' identified
- 2 McKamey Manor: This 'extreme' haunted house is the stuff of nightmares
- 3 Russell Brand says he will 'probably' give up acting to focus on his revolution
- 4 Watch what happened when food critics were unknowingly served McDonald's
- 5 David Beckham's Haig Club whisky is exactly what’s wrong with the Highlands
Putin accuses US of causing global instability
Eleven members of same family hospitalised after eating deadly pufferfish
FCKH8: YouTube reinstates provocative anti-sexism video showing young girls swearing
Phone-hacking: The Piers Morgan connection - Mirror admits some stories during Morgan's tenure may have been obtained by illegal means
Russell Brand says he will 'probably' give up acting to focus on his revolution
Of course, teenage girls need role models – but not like beauty vlogger Zoella
Cameron is warned 'no possibility' of UK reducing immigration and that bid to bring in quota on migrant workers would be illegal
Support for EU membership 'at highest level since 1991' with most Brits wanting to stay 'in'
Thousands with degenerative conditions classified as 'fit to work in future' – despite no possibility of improvement
Attacks on 'Ukip Calypso' show how skewed people’s priorities are
Poppy Appeal 2014: This is why I won't be wearing a red poppy this year
£110 - £200 per day: Randstad Education Leeds: Secondary Maths Teacher for spe...
£40000 - £50000 Per Annum Excellent benefits: Clearwater People Solutions Ltd:...
£30000 - £35000 Per Annum Excellent benefits: Clearwater People Solutions Ltd:...
£35000 - £40000 Per Annum Excellent benefits: Clearwater People Solutions Ltd:...