The past two decades alone have witnessed four major shocks to the global financial system: the collapse of the European exchange rate mechanism in 1992-1993, the peso crisis in 1994-1995 and the Asian turmoil in 1997-1998. The last, and most current, is the sub-prime bubble, which started in the summer of 2007 in the United States, intensified in 2008 and 2009, and has since changed the face of global finance and economics. This book examines the aspects of the financial crisis which have had the most prominent impacts on African countries.

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