The Mutual Review of Development Effectiveness in Africa 2015
OECD published its review on development effectiveness in Africa for 2015. The Mutual review of Development Effectiveness (MRDE) is recognised as a tool for operationalizing mutual accountability for Africa’s development by African governments and development partners. The report analyses the policy and investment decisions made over the year that affected the continent’s development. There are four main clusters of issues included in the publication: sustainable economic growth, investment in people, good governance and financing for development.
Main development issues
Africa’s growth remains steady in aggregate with close to 1% growth per year. Trade flows have also grown since the financial crisis and Africa’s export markets have diversified. To support this development, Africa signed the COMESA-EAC-SADC Tripartite Free Trade Agreement and launched the Continental Free Trade Area negotiations. Challenges to strengthen development initiatives remain, but there is a clearer focus on key priorities. Overall the investment in people resulted in rather positive development under the MDG framework. Poverty rates and income inequality continue to decline, but major disparities remain. There have also been major advancements towards strengthening democracy and good governance practices. The main challenge under the SDG framework will be to solve the armed conflicts that several countries are still involved in. In terms of finances for development the African countries have significantly improved their domestic revenue streams, but illicit financial flows remain as challenges. Overall the private capital flows to Africa have almost doubled, but therefore the ODA shows a decreasing trend.
Links
The Mutual Review of Development Effectiveness in Africa 2015
To read the full report, please click on the link above.