n AfricaGrowth Agenda - Community based organisations : a prerequisite for rural development

Volume 2009, Issue 7
  • ISSN : 1811-5187


The economic meltdown which is causing turmoil in the international economic system and which is projected to last for a long time, is projected to have negative effects not only to world economies but also political and social systems globally. The third world and more so Africa, is likely to witness severe negative consequences due to the fact that most countries have been in the process of orientating their industries to export trade in line with preferential agreements such as AGOA. At the same time, Globalization and information communication technologies have converged the global economic systems, making the effects of the meltdown to be felt by all economies including those in the periphery. This will lead to massive unemployment and push more people below the poverty line.

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