Abstract

The year 1996 was a rare good one for Africa. The continent registered its highest rate of economic growth in two decades: 5.0 percent (IMF, 1997). Among the larger economies, the star performers were Uganda, Ghana, Cameroon, and Côte d’Ivoire, along with Morocco and Tunisia (see Table 1). While these are good signs, it will take many years of growth at such levels (or better) to undo the damage that more than two decades of stagnation and decline have inflicted on most countries of the region.