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Oil and gas wealth in east Africa: A boon or a bane?

Discussion in 'International Forum' started by mwathai, Apr 2, 2012.

  1. m

    mwathai Senior Member

    #1
    Apr 2, 2012
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    Mouths are wagging over the discovery of oil in east Africa. The loudest are the pessimists who predict doom “like everywhere else.” But is the discovery of oil, necessarily a bane, a curse to be feared? This article argues that oil is a boon and east Africa has the wherewithal to harness this resource for the good of the region.
    East Africa Economic Report: Oil and Gas wealth in east Africa? A boon or bane?
     
  2. livefire

    livefire JF-Expert Member

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    Apr 2, 2012
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    ....and here i sat thinking Kenyas BOP balance sheet was much severe in respect to intl trade. Nice reading the article, very informative.
     
  3. livefire

    livefire JF-Expert Member

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    Apr 2, 2012
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    I dont wish to spoil for a fight but this is incriminating evidence. Lets work for the betterment of our economies, with or without oil.
    With a light touch:.....As at the end of 2010, foreign debt in east Africa
    stood at about US$21 billion broken down
    as follows: Kenya $6.2 bn
    www.centralbank.go.ke;
    Tanzania $10.011
    billion Bank of Tanzania (BOT): Home Page : Benki Kuu ya Tanzania and Uganda $4.6
    billion www.finance.ug
    Tanzania’s BOP position was the worst in at
    US$4.3 billion. Uganda was second at US$
    686.3 million and Kenya was third at US$144
    million. Trade deficits were worsened by the
    rapid rise in Crude oil prices.
     
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