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Submitted by Mwakarama on
Shanta, Great view - I would first focus on imports/exports: there seem to be a confusion in trade that seem to perennially snare most African economies; first African exports are shackled by western and faster developing countries... they dictate the prices, create quotas systems (coffee, tea, vanilla etcetera) and there is daylight robbery at the maritime shipping rates - when it is goods destined or going-out of Africa, it ups the costs and not only that - terms of trade for now close to 20 years have reverted to Telegraphic Transfers TTs - Africa has to pay cash in advance all over the world. While Africa's exports are paid on delivery - sham economics - whatever happened to good old "Documentary Credits"... African countries can't ever talk of economy when they must buy in cash and be paid on delivery - how do we even accumulate a "sinking fund" in and finance clearing houses? Africa has no Economic development to write abroad about...