Review from ROAPE Volume 17 Number 48
African Debt Crisis (Parfitt/Riley)


Title:
The African Debt Crisis by Trevor Parfitt, Stephen Riley
Author:
Location:
Vol.17 No.48 (Summer 1990), pp129-132
As the world enters the 1990s more people than ever before are living in poverty, and face a future devoid of hope. Indeed after the catastrophes of the 1980s it may well also be true that the proportion living in poverty is greater than in 1960. Thus three or more decades of development, coupled with Western economic aid and advice have come to nought. For what they are worth, statistics of the average GDP per head in the third world are probably little above the 1960 levels in real terms, whilst income distributions have worsened. Prospects for the future are if anything bleaker still, with the possibility of sustained growth in real average incomes, let alone the incomes of the poor, discounted except for a handful of countries. Meanwhile average incomes in the first and second worlds have more than doubled.