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Ethiopia’s Rapid Economic Growth: Miracle Or Mirage?

AFRICANGLOBE - Ethiopia, like many of Africa’s new growing economies, began achieving high growth rates from a low base. For about 10 years, the country has notched up double-digit economic growth rates. The average annual rate in the past 10 years has been 10.9 percent, according to figures from the African Development Bank.

BRICS – Can Africa Join This League?

AFRICANGLOBE - The last few years have seen rapid economic growth of BRICS countries and a recent paradigm shift of power towards these countries. The recent Euro-zone crisis has further reinforced this position with European leaders during the euro-zone crisis summit, held in Brussels late last year, and the G-20 summit in Cannes, France making a plea to China to come to their aid and structure a bailout package considering the country has vast currency reserves.