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Vol 1 (AAC) No 11

Published 1st September 2008


The markets react

African economies may not be hit by the economic crisis in the West

Chaos in Western-dominated capital and money markets has spared Africa so far. Many economists believe that Africa might be largely insulated from the first wave of damage from the crisis in the United States' financial system; but if the crisis worsens, and leads to a sustained contraction of credit and recalibration of international risk, the second wave could hold back Africa's current growth path.

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