Sub-Saharan Africa's solid growth record has been supported by several factors, including significantly less civil conflict, the generally favorable commodity price developments benefiting Africa’s natural resource exporters; and the extensive debt relief provided to most highly-indebted poor countries. But I would ascribe key importance to sound policy choices by African governments – both in terms of pursuing appropriate macroeconomic policies and pressing ahead with important reform measures.
Latin America and the Caribbean During the Global Crisis: Better than the Past, Better than Other Regions
In contrast to what happened in past episodes of world recession, this time the fall in growth of the Latin American and Caribbean (LAC) region has not exceeded that of the world economy. In fact, the performance of the region has been as good as, or better than, many other emerging market economies.