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African countries must pursue structural transformation to sustain growth, create jobs and reduce vulnerability to external shocks, says a United Nations report released today, while another publication urges governments on the continent to do this in a way that protects the environment.
The Economic Report on Africa 2012, produced by the UN Economic Commission for Africa (ECA) and the African Union, notes that African economies quickly rebounded from the 2008 financial crisis as commodity prices rose and export revenues returned to pre-crisis levels, enabling them to finance the necessary investments.