International Monetary Fund (IMF) has announced that the past year was an important one for African development. Policy makers throughout the continent, and Africa's partners in development, have much to do to maintain the momentum in the year ahead.
For several years African policy makers have pushed hard to reduce poverty and move the region forward. Over four years ago, the region's leaders, by adopting the African Union's New Partnership for African Development (NEPAD), placed their countries, both individually and collectively, on a path of sustainable growth and development.
These are highly encouraging developments for Sub-Saharan Africa. At the start of a new year, it is vital that African policymakers and the international community continue to build on the spirit of the NEPAD to turn commitments into sustained development and poverty reduction.
Many Sub-Saharan African countries continue to enjoy good economic growth. Despite higher world oil prices, average growth declined only slightly in 2005, after a remarkably strong performance the previous year.
Prices of food and agricultural raw materials fell last year, and harvests suffered from a locust infestation in the Sahel region and droughts in southern Africa—producing severe hardships for people in many countries. There was some good news, as rising world prices for beverages, cotton, and some metals helped offset the higher cost of oil imports.
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