ANN/THE STRAITS TIMES – Indonesia’s wet season is expected to arrive early in most areas of the resource-rich country, with the peak of the rainy season seen occurring in December to January of next year, its weather agency BMKG said on Wednesday. Indonesia is the world’s biggest producer of palm oil and a major producer […]
Constitutionalism, Devolution and Mining in Zimbabwe
Historically, extraction of minerals has always been a localized economic venture. Pre-colonial mining activities, were centralized to royalty- chieftain ships and clans, whose architecture was not as intricate as modern day governance systems. However, white settlers transformed mining from subsistence, communal and royalty ventures, into commercial large scale exploration activities through introduction of advanced technologies. With the transition from colonial rule back to black majority rule, governance systems and institutions installed by settlers were adopted with little amendments on fundamental fiscal and economic frameworks. All attention was pinned on securing political rights and freedoms, yet the legal framework, still benefited the black elite holders of land as before. Content with having political rights, black elites and conglomerates have continued to plunder the nation’s resources following the colonial settl
Carnegie Endowment for International Peace
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Summary: Many African countries have placed economic diversification high on the policy agenda, yet they first need to define what it means in their specific structural and socioeconomic contexts.
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Summary
For decades, economic diversification has been a policy priority for low- and middle-income economies. In the words of former managing director of the International Monetary Fund (IMF), Christine Lagarde, “We know that economic diversification is good for growth. Diversification is also tremendously important for resilience.” Unfortunately, this goal continues to elude many African countries. In fact, the continent is home to eight of the world’s fifteen least economically diversified countries. This reality weakens the foundation of their economic transfomation and slows their pace of progress. It also makes these countries part