The African growth and opportunity act

Abstract

Abstract provided by author:

The analysis of AGOA suggests that there is little direct benefit to be gained by African countries as a result of the Act. While in theory the introduction of this trade and investment law is ground-breaking, the trade and investment policies promoted by the Act are not new. They are basically the same external adjustment type policies, predicated on rewards and conditionalities, which have been imposed on most debt-ridden developing countries in the last 20 years. AGOA in its current form and focus, and peddled in the lines of the IMF and World Bank structural adjustment policies is inappropriate for Africa and will thus achieve very little for the African people

It is the conclusion of this study that unless the chief and core development problems in sub-Saharan Africa countries (such as poverty, HIV/AIDS, poor infrastructure, weak institutions, inadequate capacity, corruption, wars, debt crisis, democracy and good governance) are incorporated and brought to centre stage in the AGOA law, this ambitious piece of legislation will not promote the development of sub-Saharan Africa. Its objectives of leading to stable economic growth and sustainable development of sub-Saharan Africa will remain but a flirting illusion to be pursued and never attained. The study further maintains that, without doubt, sustainable development in sub-Saharan Africa will not begin until Africa is the initiator and part and parcel of the chosen development paradigm. t.. o:rw-". r:~; :", 'i~:'~lj ';; "~c' '. 1';,;, 1. ~ x

It is the conclusion of this study that unless the chief and core development problems in sub-Saharan Africa countries (such as poverty, HIV/AIDS, poor infrastructure, weak institutions, inadequate capacity, corruption, wars, debt crisis, democracy and good governance) are incorporated and brought to centre stage in the AGOA law, this ambitious piece of legislation will not promote the development of sub-Saharan Africa. Its objectives of leading to stable economic growth and sustainable development of sub-Saharan Africa will remain but a flirting illusion to be pursued and never attained. The study further maintains that, without doubt, sustainable development in sub-Saharan Africa will not begin until Africa is the initiator and part and parcel of the chosen development paradigm. t .. o:rw-". r:~; :", 'i~:'~lj ';; "~c' '. 1' ;,;, 1. ~ x