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Impact of Financial Crisis DRAFT 210709.doc

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.