AfDB President Predicts Africa's Economic Rebound

Africa’s economy is poised for recovery in 2010, African Development Bank President Donald Kaberuka noted during the 14th African Union Summit held in Addis Ababa, Ethiopia. Kaberuka predicted that the region’s economy will grow by up to 5 percent in 2010 and by some 6 percent in 2011, Agence France-Presse reports. The AfDB chief said this growth will be driven by the region’s rising exports and stable prices of coffee and cocoa. Donor commitments to Africa were also well-delivered, Kaberuka added.

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    Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.