Region’s economies are 'not free'

ECONOMIC GROWTH in sub-Saharan Africa is being stifled by red tape and political instability, according to the 2008 Heritage Foundation Index of Economic Freedom. The report says “Sub-Saharan Africa is well known as the poorest and most violent region of the world. “It also seems to be the one region that has been slipping further behind over the past half-century rather than advancing in terms of popular material well-being. Civil war flares sporadically from the Horn of Africa to the Atlantic Coast”. Sub-Saharan Africa is ranked last in seven of the 10 economic freedom categories and performs “especially poorly” in terms of property rights, freedom from corruption, and business freedom. “AIDS is a continuing burden. “Mass unemployment is common. “Average GDP per capita is only $1 9 84—the lowest of any region and barely one-tenth of the average incomes in Europe and the Americas. Unemployment hovers at 10.5%, and the 15% average inflation rate is twice as high as that of the next worst region,” according to the report. It adds: “Unlike regions that have a diverse range of free-market economies, in sub-Saharan Africa there are only distinctions among less free economies”. A majority of nations are ranked “mostly unfree,” with the balance split evenly between“moderately free” and “repressed.” Africa’s most free countries are Mauritius (18), Botswana (18) and Uganda (52). South Africa is ranked 57 globally. Mauritius is the second most improved country in the 2008 index, following Mongolia. Globally, the top ten countries are, in order, Hong Kong, Singapore, Ireland, Australia, the United States, New Zealand, Canada, Chile, Switzerland and the United Kingdom. The 2008 Index of Economic Freedom covers 162 countries across 10 specific freedoms such as trade freedom, business freedom, investment freedom, and property rights.