Annual growth rates were –0.61, –5.0, +6.1, and +3.9 from 2008 through 2011. Finland had a much larger fall in 2009 (–8.3%), while Norway’s was comparable to SA at –1.7%. currency would generate the optimal currency area conditions. This was prescient of course as the Eurozone’s present circumstances show.
In the Southern African Development Community a set of ambitious programmes were drawn up and agreed about 10 years ago, including moving to the Africa-wide monetary arrangements (agreed by the African Union), a Regional Indicative Strategic Development Plan, and a macroeconomic convergence framework.