The object is, by contrast, to re-state those positive aspects of the current conjuncture which bear repetition: for no Arab or African economy is currently included in the list of “advanced economies”. All are typically classified as “emerging-market and developing countries”, equally capable of either retrogression or progression. 2. African emerging  2.1.
This treaty, which is due to become effective on 1 January 2013, comprises a fiscal compact. Its main component is anchoring the commitment to enact laws, requiring budgets of member states to be at least close to balance in structural terms. Nevertheless, structural adjustments are needed not just for public finances but also to address macroeconomic imbalances.