Is Africa really recovering from the aftermath effect of GFC as claimed by IMF recently?, Africa deserves some bail out packages for financial infection by the West and other developed nations. You need to be in Africa to understand what I mean by low levels of living.
Well, we have to first investigate the impact of GFC on African economies. Secondly, we have to establish the channels through which GFC has impacted African economies. Thirdly, we have to find out where we are now in relation to the GFC - is the situation improving or worsening? I believe if we are adequately armed with this body of knowledge, then we can stand up to any individual, organisation or agency - either internal or external - to tell them what Africa has been experiencing or is likely to experience and the sort of assistance that Africa needs. The situation as its now is like you are sick and somebody is telling you "O! you not very sick and, even if you cliam to be very sick, it appears you are on the path of recovery. Do you accept what the person is telling you or you do enough check on yourself to know where you really stand. Those who are interested can read my article on "The Credit Crunch and its Macroeconomic Impacts in Small-Open Developing Economies: A Dynamic Stochastic General Equilibrium Analysis" at http://scialert.net/abstract/?doi=ijaef.2010.1.30. I hope this will encourage us to do specific analysis with respect to Africa as regards the GFC. It is then that we can tell the IMF, World Bank or the rest of the developed world what we are experiencing and the sort of assistance we need.
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