Addis Ababa, December 28 (WIC) – The developing world has become less dependent on aid, the guardian reported Tuesday citing Ethiopia as its case in point.
The emergence of a new generation of leaders, the end of the continent’s debt crisis, business-friendly policies, new technologies, the spread of peace, and strong demand for natural resources have helped Africa withstand the global downturn, said the British media.
“Ethiopia is humming with the optimism and energy of a fast-growing country, creating more jobs, sending more children to school, expanding healthcare, and providing electricity, clean water, sanitation and roads,” said the 190 years old British media.
Speaking about the Horn of Africa drought the guardian wrote: “When the year began, we did not know the rains in east Africa would fail. But in contrast to the 1980s, in today’s Ethiopia drought no longer means famine. Unlike its neighbour Somalia, there has been no repeat of the TV images of starving people in Ethiopia.”
The article attributed the country’s success to the early warning system put in place, food reserves and distribution systems, and a safety net that supports the poorest families in their own communities, helped by foreign donors.
Citing Ethiopia as one of the fastest growing economies in Africa, the article painted bright future prospects for many African countries.
“Steve Radelet, a former senior fellow at the Centre for Global Development, has documented the emergence of 17 African countries in which total income is growing by more than 5% a year – increasing average incomes by 50% in 13 years. That growth is attracting businesses and investors from Africa and abroad, and the continent’s middle class is expanding.
By 2015, about 100m African households will have incomes greater than £2,000 a year, roughly as many as India today,” states the article.
The article noted that as more African countries register growth, they are becoming more integrated into the world economy and hence their interests have changed.
“The most important international events for developing countries this year were the repeated failures of European leaders to put in place a credible plan to save the euro, the G20’s decision to put the world trade talks out of their misery, and modest progress at the Durban talks on climate change,” the article noted as factors which will have more impact the developing countries.
The article concluded pointing out promoting shared growth, protecting the environment, reinventing the financial system, stamping out international corruption, encouraging and sharing innovation, reducing inequality and entrenching peace as the 2012 aspirations for affluent and developing countries alike.