Africa: Developing nations alone cannot drive global recovery

Developing countries continue to drive the global recovery but are not in a position to make up for slowdown in the advanced countries. Consequently, 2011 does not hold out much hope for the world economy, says a new report by the United Nations. The UN report, titled 'World Economic Situation and Prospects 2011' (WESP), finds that because of the slowdown in the advanced countries and the phasing out of stimulus measures, output growth in the developing countries is expected to shrink to six per cent during 2011-2012, down from seven per cent in 2010.