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Abstract:
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About a decade ago, the left learning Review of African Political Economy (ROAPE) published an article by Hoogvelt et al 1992)entitled: ‘The World Bank and Africa: A Case of Mistaken Identity.’ The article criticized the World Bank’s simplistic tendency to lump together African countries as if Africa is one entity. In their critique of the World Bank’s simplistic methodology, the authors cite several statements from the bank’s reports that posit, inter alia, that Africa is facing deepening crisis because of weak economic growth, low levels of manufacturing, poor export performance, declining industrial output, climbing debt, falling per capita incomes, low levels of investments and savings, weak institutional capacity and deteriorating social indicators, all compounded by accelerating population growth. |