This project, carried out by the Economic Justice Network (EJN) and funded by OSISA, aims to study the social impact of the Global Financial Crisis in the Southern African Development Community (SADC) region. Six case studies were undertaken: Angola, Botswana, the Democratic Republic of Congo (DRC), Malawi, Mozambique and South Africa.
The financial crisis has led to an acute contraction in economic activity around the globe, with most major economies now in the depths of a recession. Following quickly from the fuel and food crises of 2008, the financial crisis threatens to undo the progress made in many African countries over the past decade. While the initial effects of the financial crisis were slow to materialize in Africa, its impact is now becoming clear. The financial crisis is affecting African countries through a number of declines in export earnings (especially for minerals/raw materials), private capital inflows and remittances as well as Overseas Development Assistance (ODA). Africa is projected to grow at a rate of less than 3% in 2009, whilst Sub-Saharan Africa is expected to grow at just 2.5%.
This project argues that it is important that even as SADC countries are strengthening their development policies, they need to channel additional resources to groups or sectors that have been adversely impacted by the crisis to date.
Angola by Alves da Rocha
The Angola full report is still to be published.
Botswana by Richard Kamidza (To be published after launch in Botswana Jan 2010)
The Botswana full report is still to be published
Mozambique by Niall Condon
Malawi by Bismark Sakunda and Thomas Munthali
South Africa by Sofia Svarfvar and Sandisiwe Ncube
DRC by Yav Katshung
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