Research and past experience have shown that central bank independence is a necessary  BIS Review 106/2008  1  precondition for monetary policy to be credibly and efficiently geared towards preserving price stability.
If the continent is able to sustain these growth rates at this level, we might see a difference in the high incidence of poverty on the continent. The second factor that in my view has contributed to the lack of economic development on the continent is the legacy of colonialism. Most countries on the continent became independent in the 1960s and 1970s.