The Economic Situation in Contemporary Africa: Comment on Questions Posed by Lansana Keita

Abstract

The economic situation in contemporary Africa is highly problematic,
creating populations that are in general much discontented with matters
as they now stand. Africa’s populations are now assailed by negative
phenomena such as high unemployment; low wages in an environment
of high prices (Third World wages and First World prices); low capital
accumulation; banks that cater to expatriates of the wealthy mainly;
human capital flight; political instability; questionable democracy; weak
and inefficient infrastructures, all now supervised by the IMF and the
World Bank.