Slowly, but surely, word is getting out about Africa’s overall buoyant economic prospects. What just a few years ago was universally pitied as the “hopeless continent” is today home to six of the world’s fastest growing economies.
While burgeoning demand for the continent’s abundant natural resources is, without a doubt, a key factor in this extraordinary growth spurt one should not forget the important role played by good governance in the states leading the way in what Jeffrey Herbst and Greg Mills have dubbed “Africa’s third liberation” in their eponymous new volume. This point was dramatically underscored this week when authorities in Ghana impounded the flagship of the Argentine navy in obedience to a court order granting relief to a commercial creditor of the deadbeat Latin American country.
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