By Organisation for Economic Co-Operation and Development
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The monetary concern, which originated in built nation monetary markets, fast unfold to constructing international locations. Governments and significant banksthough taking many and expensive measures have been powerless to prevent the worldwide financial meltdown, as economies around the globe went into recession. The intensity of the monetary concern signifies that the area financial system is in unchartered territory.
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At this stage, political commitment to enacting the appropriate legislation and sustaining the reform process is crucial; • Establishing a transparent and independent regulator for the electricity market. • Separating the integrated structure of the incumbent power utility into generation, transmission and distribution companies (vertical unbundling) and/or into smaller district or provincial utilities (horizontal unbundling). Separating distribution from the rest of the industry allows the charging of appropriate tariffs which are essential if the sector’s performance is to be turned around; • Promoting the transfer of ownership, starting from corporatisation, leading to liberalisation in Regarding the setting up of a proper regulatory framework, only South Africa, Ghana and Côte d’Ivoire have managed to establish autonomous regulatory agencies as a result of a transparent and objective appointment process.
The next steps NEPAD’s continued success will depend on several critical developments. These include: the degree of implementation of the APRM and the extent to which the principles of good political and economic governance are respected; the depth of the backing that NEPAD will generate within civil society and the private sector in support of its objectives; the strength of the new strategic partnerships that NEPAD will forge with the international community; and the success that the initiative will have in designing and implementing projects and programmes that are in line with the spirit and letter of NEPAD.
See Filmer, D. and L. ” in Social Science and Medecine, and Pritchett, L. and L. Summers (1996), “Wealthier is Healthier”, in Journal of Human Ressources. © AfDB/OECD 2004 African Economic Outlook 31 Overview Table 5 - Progress Towards Achieving Millennium Development Goals Indicator Goal 1 Goal 2 Goal 3 Goal 4 Goal 7** Eradicate extreme poverty and hunger Achieve universal primary education Promote gender equality and empower women Reduce child mortality Ensure environmental sustainability Target Female secondary schooling ratio to male ratio Under five mortality rates Access to improved safe water On track Achieved ..