Africa: Global slowdown hits developing countries

This issue of South Bulletin focuses on how developing countries in Asia, Latin America and Africa are now facing an economic slowdown with a deterioration in GDP growth, exports and lending conditions. The effects of the Eurozone recession and the US slowdown are now increasingly felt in the South. Another analytical article 'Rethinking growth strategies is imperative for the South' by South Centre’s Chief Economist Yilmaz Akyuz shows how the favourable international conditions that led to the South’s high growth in the past decade have now turned unfavourable, resulting in the current economic difficulties. Thus the developing countries have to prepare for new growth and development strategies.