Africa, Standing Still But Going Backwards

A NEW World Bank paper* paints a rather depressing picture of global poverty. From 1993 to 2008 the average per capita income of sub-Saharan African economies barely budged—it increased from $742 to $762 per year (measured in 2005 purchasing-power parity-adjusted dollars). If we exclude South Africa and the Seychelles, we see a decline from $608 to $556 over the period. 

The graph below is even more worrying. The authors divided the world distribution of income in 1993 and 2008 into 20 income groups, or “ventiles”, each representing 5% of the world population. The groups get richer from left to right. Between 1993 and 2008, countries like India and, especially China, shift to the right. By 2008 China completely left the poorest 5% of the world’s population. 
But sub-Saharan Africa shifted to the left. Whereas in 1993 about 25% of the world’s poorest 5% lived in sub-Saharan Africa, by 2008 it was nearly 60%.

http://www.economist.com/blogs/freeexchange/2014/01/incomes-sub-saharan-africa

Comments

  1. It is increable to see a so rich continent with natural resources being the poorest of the poor.Mis-management of resources,rampant corruption,in a word Afircan are poorer becuase they are poorly govern.

    10 billion of dollars in foreign aid have done little to improve the live of Africans;at best has served to Bankroll tyrannts,and facilitate experimentation by idealists with hopeless economic policies.Africa is the the only continent that has grown poorer in the last decades.Much of Africa sufers under the Vampire states with government that has been hijacked by phalanx of bandits and crooks who would use the instrument of the state to enrich thmeslves and their cronies,and their tribemen to exclude everybody else.

    African has a power problem,there is no question about that ,Africa needs protection from thugs-cum-leaders who abuse power,misuse power,confuse power,and excuse and justify the abuse of power
    .But on a second thought,Afirca does not a have a power problem but rather a problem of powerlessness."The people are powerless against thugtators who use power to abuse their human rights".Africans are powerless aginst powerful forces of corruption,-officials and cronies who illicitly tranfers ,steal and stash billions of dollars in foreign banks.

    Morevoer,we must recignize that Interantional ORganizations such as IMF,World Bank etc...help DIctators in their endevour,for the fact is that BOTH IMF and World Bank rpae their own Constituion in regards to aid distribution to countries.

    ChecK IMfF CONDITIONALITY
    -Provision to reduce corruption ,improvement of human rights and reduction in deficit spending
    -That funds are used for specific projects rather than being left to the discretion of the receiving countries.
    World Basnk Conditionality is literally similar.

    But waht we see,in Seychelles is that IMF,World Bank agents distribute aid directly to the government-----not directly to the citizens etc..
    In antoher words ,IMF and World are fighting poverty as they like telling the owrld but rather selling African poverty.They do not promote steady growth and full employment as the intially should do.

    High intrest rate increase the incentive to save money,but also encouragge speculative investment that briing quicl paper money profits to a few while adding nothing to the productive capacity.Another important factor is the DEVALUATION OF CURRENCIES---which is supposed to increase self-sufficiency ba making imported product more expensive and African exports cheaper.Since most African countires do not produce these productsit is not possible to repalce them with locally produced ones.etc.etc.etc..

    In the closing,IMF WORLD BANK are not prescription to poverty but a cure.

    Jeanne D'Arc

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  2. But a curse--correction.

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  3. Africac were much better during the colonial era than for the last 60 plus years of indepedence.Africa has seen its economy dismantled,poverty increase,tribal war increase,Torrirism wihch was not part of Afircan mentality proliferate,Ismalic increase,etc-----
    Africans dictatorss And their Interantional sponsors tell us Afirca would be the Continent of the Future--Yes for Foreigners who want to rob once against Africa Natural resources----CHinese ,Indain,and other controlled now large fertile land around Africa---They told African thier projects were to help dealling with FOOD securtiy while instead they produce for export not for FOOD security while African keep growing hungry and poorer.
    Africacould be a power Economic contient with all its natural rich resources only if African exploit their own resources themsleves.GIving Interantional companies the power to exploit their resources in their palce is nothing than anothwr from of neo-colonization--

    Lokk during the COLD WAR there were tow BLOCKS --the WEST leads by USA and SOVIET UNION leads by RUSSIA--during the cold war---USA and EUROPEAN countires monopolize part of the world economy and dito to SOVIET UNION ..other countires wre forbieb or block access to their amrkets because they wanted to control world economy eahc one(USA;EUROPEAN ANDRUSSIA its way(.After the fall of SOVIET UNION--countries who depended byck them of either WETERN OWRLD or SOVIET UNION have started developing their own economy and thus be a competitor to those two blocks who controlled in the past the world econ0my--THis for them means a loss of control,and harsh competitions which would make them less pwoer,and infleuncail in the world--to ensure that the keep some kind of control over the owrld--they introduce waht is called---GLOBALIZATION which allow them to go and control others economy.and thus have still control on the world.IMF and WORLD bank Created after the world war have now become an attive palyers in promoting this policy.

    Jeanne D`^Arc



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  4. A word to Parti lepep Drug Barons---Since COLORADO has implemented the legalization og GRASS---COLORADO has generated Billions in tax revenues---To be accurate it would genrate Uà 1.9 billion of dollars annually-------while at the same time--Durg Brons would be out of business,illegal dealing detered,and allow best and effective control by state.

    Food for thoughts ofr Parti lepep !Legalization could genrate enough money to pay back our debt and that alone.

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  5. Indian celebrates 65th anniversary of independence while flag raising is done on Seychelles soil ,which is an unoffical act by Indains to say literally Seychelles is part of their terrirtories.Never seen in the world that foreign Ambassies riased their country flag in foreign countires on thier National day.It is unique to partilepep ways of doing things.

    We would also have CHinese Day now readjusted under the Motto Seychelles-Chinese Day as if Seychellois more in comkon with CHinese than for example French or Europeans with whom we feel closer ,share commonity etc

    Pp should Instead use Seychellois tax payers' money to advertise Seychelloi values ----For Instance---the CREOLE CARNIVAL whic hnow shows a dispaly of modern Carnival clothings(which is okay)should be given more pep and give a soul thus having a story to it,
    Instead of foreigners displaying and being articificailly the soul of our Carnival,PP should concentrate of Bring more our Creole values into it by ---Dispalying :

    Seychellois historical COSTUMS--that wear during the colonial time-----Colinal police unifrom,,Governor clothing,Marriage clothings of this time,even disguise as Colonail masters such as the Queen/King ,or as of personage that have soemthing to do with our history like LA BUSSE;even foreign dignitaries who exiled on to our shores such as King Prempe,Macharios...etc...

    Be visitors a CArnival that just as attraction,festivity but the diplay tells our past history ,give an insight on our past ,present and future.

    Jeanne D'Arc

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