The main drivers of economic growth which Sub-Saharan Africa has experienced in the past decade are being seriously affected by the financial and economic crisis. In particular it has caused a reversal of three factors which have each contributed significantly to economic growth in developing countries in general: exceptional financing opportunities, high commodity prices and, for some countries, large flows of remittances (UNDP 2009:2). Furthermore, the crisis is likely to have negative repercussions on aid levels as the financial crisis impacts the major donor countries. While the complete fallout is still uncertain, it is clear that the channels of transmission of the crisis will be different for each country. The impact will depend on the structure of the economy and each country’s exposure to one or more of the main channels of transmission.
