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African countries need to sustain reforms to macroeconomic stability and improve the domestic investment climate to promote private sector activity. This book reviews the continent's economic performance and near-term prospects. It looks at diversification trends, and suggests policies for achieving diversification. Profound changes are increasingly occurring in all areas of the world economy. While the industrialised and emerging economies are able to contain the multiple external and internal shocks generated by these changes, Africa on its part is still struggling to cope with them. The analyses reported in the present edition of the Report review the world economy and map out prospects for development in Africa through the institution of structural reforms to diversify and modernize the economy, enhance competitiveness, promote trade, accelerate growth and reduce poverty.
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