Summary

This important and timely volume presents an account of the major development challenges facing Africa in the new millennium. As Africa enters the 21st century, it is facing perhaps the most daunting development challenge of any region in the world. For most African countries, the post-independence period has been marked by far-reaching political, social, and economic change and, in many instances, by severe political and social turbulence. While there have been encouraging cases of success, the overall development record of the continent is disappointing-nearly half the continent's population live in absolute poverty and that number is rising. This book examines these issues by addressing major themes such as poverty reduction, economic reform, regional integration, globalization, private sector development, good governance, rural transformation, NEPAD, debt and debt reduction, the role of the African Development Bank in the development of regional member countries, and the efforts of the Bank in enhancing the development effectiveness of its operations. The book will be indispensable to policy-makers, development agencies, international organizations, as well as scholars and students interested in African economics and politics, globalization, and development studies.