Communications Development announces publication of Economic Report on Africa 2002: Tracking Performance and Progress

Spring 2002
Communications Development announces the publication of the latest Economic Report on Africa, the annual flagship publication of the Economic Commission for Africa that provides a unique perspective on the continent's socioeconomic development progress. Communications Development designed, edited, and produced the report.

Tracking Performance and Progress shows that Africa grew faster than any other developing region in 2001, reflecting better macroeconomic management, strong agricultural production, and the cessation of conflicts in several countries.

These gains were made amid the simultaneous slowdown of all the major economies and the September 11 terrorist attacks on the United States. But Africa's average GDP growth of 4.3% in 2001 masks wide disparities, from growth of 65% in Equatorial Guinea to a contraction of 7.5% in Zimbabwe. The report emphasizes that economic growth remains fragile and confirms that at current rates Africa will not achieve any of the Millennium Development Goals set by the United Nations at its Millennium Summit.

That said, and based on a number of positive recent developments, the report provides a cautiously optimistic prognosis of the medium-term prospects for Africa. These developments include the opportunities created by the U.S. African Growth and Opportunity Act, the European Union's "Everything but Arms" initiative, the New Partnership for African Development (NEPAD), and the launches of the Doha Development Round and the Africa Union. In the medium term, issues of political governance, civil conflicts, and developments in the world economy dominate the downside.
ERA 2002 reaches these conclusions by supplementing its traditional analysis with seven in-depth country studies spanning the diversity of Africa—from South Africa to Guinea.

For more information, visit http://www.uneca.org/era2002/index.htm.