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Vol 57 No 21

Published 21st October 2016

Diversification or bust

The Bretton Woods Institutions warn that it's no good waiting for another commodity boom

Governments and companies in Africa should not expect an early recovery of their commodity exports to boost flagging trade, says Albert Zeufack, the World Bank's Chief Economist for Africa, appointed in May. There was little prospect of world prices bouncing back to boost Africa's export revenue, said Zeufack in a forthright address on 8 October to over 150 African finance officials at the annual meeting of the World Bank and International Monetary Fund in Washington. 'To those who think that, I respectfully urge you to think twice.'

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