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Economic Report on Africa 2008

Africa and the Monterrey Consensus - Tracking Performance and Progress

image of Economic Report on Africa 2008

Economic Report on Africa (ERA) is the key instrument through which African economic performance is tracked and assessed by the United Nations Economic Commission for Africa (ECA) and the African Union Commission (AUC). One of the main goals of the ERA is to identify policy challenges that countries face on the continent and to suggest practical solutions. ERA 2008 assesses progress in terms of meeting international commitments to Africa in the six core areas of the Monterrey Consensus: mobilizing domestic financial resources for development; mobilizing international resources for development; promoting international trade as an engine of development; increasing international financial and technical cooperation for development; external debt relief and sustainability; and addressing systemic issues.

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Overview

This report is organized into two parts. The first part comprises three chapters that review the main developments in the world economy (chapter 1), recent economic performance and growth prospects in Africa (chapter 2), and major global development challenges for Africa (chapter 3). The second part contains three chapters that discuss Africa’s progress in meeting the goals of the Monterrey Consensus (chapter 4), the results of the ECA survey on African policymakers’ views on the implementation of the Monterrey Consensus (chapter 5), and the way forward (chapter 6).

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