Since Africa has few large financial institutions or home mortgages, it has been largely unaffected by the recent global economic crisis.

Question

Quizplus · Accepted Answer

While Africa may not have been as heavily impacted as other regions by the global economic crisis, it did experience some negative effects. For example, decreased demand for goods and services from Europe and other parts of the world affected African economies that relied on exports. Additionally, some African countries have seen a decrease in foreign investment and tourism. While the lack of large financial institutions and home mortgages may have had some protective effect, it is not accurate to say that Africa was largely unaffected by the crisis.

Since Africa Has Few Large Financial Institutions or Home Mortgages