A renewed wave of development babble began flowing soon after the February launch of the World Bank’s 10-year strategy document, ‘Africa‘s future and the world bank’s support to it’, says Patrick Bond. Within three months, a mini-tsunami of Afro-optimism swept in: The International Monetary Fund’s ‘Regional Economic Outlook for sub-Saharan Africa’, the Economic Commission on Africa’s upbeat study, the African World Economic Forum’s Competitiveness Report and the African Development Bank’s dis...read more
A renewed wave of development babble began flowing soon after the February launch of the World Bank’s 10-year strategy document, ‘Africa‘s future and the world bank’s support to it’, says Patrick Bond. Within three months, a mini-tsunami of Afro-optimism swept in: The International Monetary Fund’s ‘Regional Economic Outlook for sub-Saharan Africa’, the Economic Commission on Africa’s upbeat study, the African World Economic Forum’s Competitiveness Report and the African Development Bank’s discovery of a vast new ‘middle class’ (creatively defined to include the 20 per cent of Africans whose expenditures are $2–4 a day).