By Craig Baker and Andy Ratcliffe
The arguments over whether South Africa should still receive aid from Britain, following Justine Greening’s announcement that there would be no new DFID projects in South Africa, show how the global debate about the continent is shifting.
Africa was once viewed as a region that had stalled, making little or no progress. Now, the world is starting to notice the pace of economic change. Headlines on the theme of ‘Africa rising‘ are appearing more and more in international newspapers. But many doubt that this economic growth is actually improving living standards for the average African citizens. Continue reading »
The global mining industry could hardly be accused of being introspective. It’s a tough business, all about grade, costs and prices. Everything else is secondary. Nowhere has this attitude been more apparent in the past than at the annual Africa Mining Indaba in Cape Town.
This year, the obligations of the industry as a development partner were front and centre in the main auditorium; the debate was as much about people and politics as it was about mining. The agenda has clearly changed. Continue reading »
Gold diggers beware! The World Bank is setting up a trust fund to give African nations some muscle when dealing with foreign investors in the extractive industries. The $50m fund is driven by concerns that African governments are allowing the natural wealth of their country to be chipped and siphoned away, with little benefit to local people.
Recent strikes in South Africa have left foreign investors wary of putting money into African mining. Further challenges won’t be welcome. Continue reading »
It’s been almost one year since Zambian president Michael Sata entered office, having ended the Movement for Multi-Party Democracy’s twenty year rule in September 2011. There were a few nervous investors at the start, so how is he doing now? This week the IMF mission to Zambia cast its verdict. Continue reading »
Dmitry Medvedev has landed in Vladivostok to help the far east city celebrate its birthday and check out the new infrastructure that has been built for this September’s APEC Summit.
For the past few years, various Russian officials have been billing Vladivostok as Russia’s new capital of the Far East, or its own San Francisco (but better), as Medvedev boldly pronounced on Monday. Continue reading »
By Jimmy Greer of Brazilintel
Few things are more likely to invoke the suspicion of very serious people in advanced economies than loose talk about measuring national “happiness”.
You can imagine the eyebrows rising further when an institution in an emerging economy like Brazil – a country with plenty to do in delivering higher standards of living to much of its population – says it is about to embrace the idea. But news that the Fundação Getulio Vargas in São Paulo (FGV-SP), a higher education institution and think tank, is setting out to measure Brazil’s gross national happiness (felicidade interna bruta, or FIB) should be taken seriously. Continue reading »
As an economist, Ricardo Hausmann has spent much of his life thinking about numbers. But over the last few years, the director of Harvard’s Center for International Development has been thinking more and more about the less tangible productive capabilities that a country produces – which he refers to as “letters”. Continue reading »