Responses by African Governments to the Global Economic and Financial Crisis and Lessons
"The paper focuses on the responses by African governments to the financial crisis and lessons. The authors blame the failure of the neo-liberal (laissez faire) policies of the multilateral institutions (World Bank and IMF) and excessive government regulation for the crisis. We also noted that the crisis is taking its toll on the African continent, as many countries continue to experience decline in their exports and exports revenues, limited inflow of international capital and remittances, widening current account and budget deficits, companies reporting huge losses and cutting jobs, to mention just few. Although individual countries have taken measures it deemed fit to reduce the impact of the crisis on its economy and people, a lot still has to be done."