African economy

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African economy

Although it has abundant natural resources, Africa remains the world's poorest and most underdeveloped continent, due largely to the effects of tropical diseases,

the slave trade, corrupt governments, failed central planning, the international trade regime and geopolitics; as well as widespread human rights violations, the negative

effects of colonialism, despotism, illiteracy, superstition, tribal savagery and military conflict (ranging from war and civil war to guerrilla warfare to genocide).

According to the United Nations' Human Development Report in 2003, the bottom 25 ranked nations (151st to 175th) were all African nations.

Widespread poverty, illiteracy, malnutrition and inadequate water supply and sanitation, as well as poor health, affect a large majority of the people who reside in the

African continent, where 36.2% of the population is living on under $1 per day. Africa is by far the world's poorest inhabited continent, and on average,

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