Syndicate content

Add new comment

Submitted by Simon on
Thanks for this post. Isn't it possible that Africa's response had to be different because it hardly had the same levels of investment banking investments, stock trading, and mortgage industries that befell the industiralized world? One could argue that the main effect on Africa due to the crisis has mainly been felt with remittances, which go to private individuals. Government options in many African countries are largley dependent on the international financing institutions. Government tax revenues porbably did not get hit much because most taxes are raised from a few middle class working class individuals whose jobs were not so linked to the financial crisis in the West.