Socioeconomic development in African countries, along with other developing countries, is held back by many constraints. These include an insufficiently skilled workforce, poor infrastructure, and inadequate capital to finance public goods and services. This is also true for some African countries with abundant natural resources. For decades, an array of structural reforms have been put forward to steer developing countries towards growth. Some have been economic, others political, or focused on the public sector. Most are concocted in western countries and midwifed by powerful western agencies, such as the World Bank and International Monetary Fund. Yet they have not led to the intended results. One reason is that recipient countries have traditionally been excluded from designing the reforms. This creates mistrust between those who want them and those who are forced to accept them. Another reason that’s been suggested is that the western roots of reforms make them incompatible with the social contexts of African countries. Tying reforms to financial aid is a third reason. Bureaucrats in poor countries often view proposed reforms as nothing more than a means to international liquidity.
SOURCE: THE CONVERSATION
More Stories
Lagos Rising: Meet the African Designers Who are Ushering in a New Guard of Fashion
My Life in Food: Idris Elba on African Cuisine and Cooking with his Mum
In His Imaginative Debut Feature, Walé Oyéjidé Brings Together Elements of His Life’s Work
What is Zellige Tile?
Ousmane Sembène at 100: A Tribute to Senegal’s ‘Father of African Cinema’
Inside an Ultra-exclusive Lodge on the Fringe of Etosha National Park
Tourists Flock to Nigerian Cave And Waterfall For Its ‘Healing Powers’
Morocco is Just as Worthy for a Sun Trip
African Markets Offer Unique Goods and Experiences
Get to Know East Africa’s Art Scene
Mo Ibrahim’s Index Looks at Africa’s State of Governance
France to Give Burkina Faso What It Wants