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UN / AFRICA ECONOMIC REPORT 2012
STORY: UN / AFRICA ECONOMIC REPORT 2012
TRT: 1.58
SOURCE: UNTV / WORLD BANK
RESTRICTIONS: NONE
LANGUAGE: ENGLISH / NATS
DATELINE: 13 JUNE 2012, NEW YORK CITY / FILE
FILE – UNTV - 2011, NEW YORK CITY
1. Wide shot, exterior United Nations headquarters
UNTV - 13 JUNE 2012, NEW YORK
2. Wide shot, press conference
3. Med shot, journalists
4. SOUNDBITE (English) Robert Vos, UN Director of Economic Policy and Analysis:
“Five percent growth for Africa could be less than its potential, and it might move up to six or seven percent per year growth rates moving forward, if all things fall properly into place, and if Africa is not hit by another global economic crisis as the rest of the world.”
FILE – WORLD BANK – 2010, LIBERIA
5. Wide shot, people walking along road
UNTV - 13 JUNE 2012, NEW YORK
6. SOUNDBITE (English) Robert Vos, UN Director of Economic Policy and Analysis:
“Africa can benefit from the global economy, but has to be very careful not to be brought down by the global economy at the same time. And the only way to do that is to work harder on this diversification of its own economy, strengthen the sectors that are now lagging behind and where there’s a lot of potential for the region to grow faster, earn income and earn a better living for much of its population. And then I think it can get much more of its own dynamics, and through that be less vulnerable to a downturn in Europe or the United States.”
FILE – WORLD BANK – 2010, MALI
7. Wide shot, woman walking with goats
FILE – WORLD BANK – 2012, ETHIOPIA
8. Various shots, farmer walking
9. Med shot, workers picking fruit
UNTV - 13 JUNE 2012, NEW YORK
10. SOUNDBITE (English) Robert Vos, UN Director of Economic Policy and Analysis:
“I still believe that policy makers are strongly committed to avoid it, but it will be very costly and it will be very difficult.”
FILE – WORLD BANK – 2011, KENYA
11. Wide shot, man handing money to shopkeeper
FILE – WORLD BANK – 2010, LIBERIA
12. Close up, woman on cell phone
FILE – WORLD BANK – 2011, KENYA
13. Wide shot, townspeople, boy on bike
14. Wide shot, people talking on busy street
FILE – WORLD BANK – 2011, MOZAMBIQUE
15. Close up, woman on phone
FILE – WORLD BANK – 2009, LESOTHO
16. Close up, woman counting money
A United Nations report released today (13 June) says African countries must pursue structural transformation and diversify their economies to sustain growth, create jobs and reduce vulnerability to external shocks like the Euro debt crisis.
The report entitled “Unleashing Africa’s Potential as a Pole of Global Growth,” states that Africa’s governments need to push through growth-promoting macroeconomic policies in the short run, while adopting long-term development strategies.
Launching the report in New York, senior UN economist Robert Vos said that Africa’s prospects are actually quite positive compared to other developing regions.
He said growth rates above five percent per year, up to six or seven percent, were not unrealistic “if all things fall properly into place, and if Africa is not hit by another global economic crisis as the rest of the world”.
But Vos warned that Africa needed to “be very careful not to be brought down by the global economy”, pointing to a possible spread of the Euro crisis. He urged African countries to “work harder” on diversifying their economies and strengthening sectors that are lagging.
Vos said that if the Euro area crisis were to accelerate significantly, that would impact on Africa’s export receipts, remittances and aid flows as well as foreign direct investment on the continent.
Asked whether he thought the Euro crisis would indeed spread, Vos responded that he still believed policy makers were strongly committed to avoid it, “but it will be very costly and it will be very difficult”.
The Economic Report on Africa 2012, produced by the UN Economic Commission for Africa (ECA) and the African Union, notes that turmoil in North Africa and the euro area crisis combined to slow growth in 2011. But despite uncertainties some African countries have grown at double digits, reflecting higher commodity prices and strong domestic demand.
The report urges African countries specifically to increase investments in high-quality education, health and infrastructure that can enhance long-term growth potential. In addition, they should intensify efforts to diversify their export destinations, expand economic partnerships, including those with emerging economies, and deepen intra-Africa trade and investment.
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