Includes bibliographical references and index.

This is the first volume in a new series Africa: Policies for Prosperity. For the first time in more than a generation, sustained economic growth has been achieved across the continent - despite the downturn in global economic fortunes since 2008 - and in many countries these gains have been realized through policy reforms driven by the decisive leadership of a new generation of economic policymakers. The process of reform is continuous, however, and the challenge currently facing this new generation is how to harness these favourable gains in macroeconomic stability and turn them into a coherent strategy for sustainable growth and poverty reduction over the coming decades.