Posted on October 28, 2014 by iMFdirect
By Antoinette M. Sayeh
Tremendous efforts are under way to upgrade sub-Saharan Africa’s infrastructure. But the needs on the ground are still immense as evidenced by the frequent electricity blackouts, poor roads, and insufficient access to clean water in many countries.
Infrastructure is one of the key challenges facing policymakers in the region—I experienced it first hand when I was finance minister of Liberia before coming to the IMF. The benefits are fairly clear: with improved infrastructure, new growth opportunities in the manufacturing and services sector can be generated, barriers to intraregional trade can be reduced, and economies will be better positioned to transition from low to higher productivity activities. Without improved infrastructure, I fear the increase in productivity and greater economic diversification necessary to sustain Africa’s current growth momentum will not materialize.
In this spirit, in the latest Regional Economic Outlook: Sub-Saharan Africa economists from the IMF’s African Department looked at progress so far in addressing the infrastructure deficit and discussed policies needed going forward.
Filed under: Economic outlook, Economic research, Financial Crisis, Globalization, growth, IMF, International Monetary Fund, Low-income countries, Reform | Tagged: Africa, China, domestic tax revenues, infrastructure, investors, manufacturing, public debt, Regional Economic Outlook: Sub-Saharan Africa, Sub-Saharan Africa, telecommunication | Leave a comment »
Posted on September 3, 2014 by iMFdirect
By Doris Ross
Three months ago African leaders and policymakers assembled in Mozambique under an “Africa Rising” banner to assess the continent’s strong economic performance. But while the outlook for the continent remains strong, individual countries have faced problems and the uncertain global outlook continues to pose risks. Against this backdrop, what are the policies that Africa should pursue to sustain the positive momentum for the continent?
In reality, Africa Rising has never been about unbridled optimism; it has been a tale of strong growth tempered by serious challenges. And rising in economic terms is as much about sustaining expansion as about the dimensions of growth itself. The extended process of African development also requires increased resilience to shocks, and it is this resilience that may be tested by economic problems in some African nations.
Strong growth—and increased resilience—were the focus of the Africa Rising conference organized in May by the IMF and the government of Mozambique in Maputo. The nearly 1,000 officials, corporate executives, civil society representatives, and journalists who gathered for the two-day event discussed the difficult issues that must be addressed if Africa is to maintain its upward trajectory of the past two decades.
Filed under: Africa, Economic Crisis, Economic outlook, Economic research, Employment, Globalization, growth, IMF, International Monetary Fund, LICs, Low-income countries, Reform | Tagged: Africa, agriculture, book launch, capacity building, coal, fiscal policy, Mozambique, natural gas, poverty reduction, private sector, Sub-Saharan Africa, tax regimes | Leave a comment »
Posted on January 11, 2014 by iMFdirect
By Christine Lagarde
(Version in Français)
My second stop on this trip to Africa, after Kenya, was Mali—a country that is facing an extraordinarily difficult transition: from restoring political stability to securing economic stability—from crisis to recovery.
Having gone through massive turmoil in 2012, Mali is emerging successfully, thanks to the perseverance and fortitude of its people. Parliamentary and presidential elections have been held, and the newly elected government has put forth a new economic program aimed at increasing growth and reducing poverty.
Filed under: Africa, Emerging Markets, growth, IMF, International Monetary Fund, Investment, Low-income countries, Politics | Tagged: Africa, Christine Lagarde, economic recovery, Mali, poverty, private inv, Sub-Saharan Africa, women | Leave a comment »
Posted on January 8, 2014 by iMFdirect
By Christine Lagarde
For yet a third year I have kept my tradition of starting the New Year with a visit to Sub-Saharan Africa—a region that truly offers great promise! As the world economy has remained focused on the crisis of the advanced economies, Africa has quietly forged ahead with strong growth led by a vibrant private sector and surging foreign investment. Over the past decade Sub-Saharan Africa has posted growth averaging 5.6 percent a year.
The countries of East Africa have done especially well. So what better place to begin my travels this year than in Kenya, which has emerged as one of the region’s “frontier economies”—countries whose recent performance is propelling them toward middle-income status.
Filed under: Africa, Emerging Markets, Employment, growth, IMF, International Monetary Fund, Low-income countries | Tagged: Africa, business, development, fiscal policy, growth, iMFdirect, infrastructure, International Monetary Fund, jobs, Kenya, regional integration, Sub-Saharan Africa | 1 Comment »
Posted on December 21, 2012 by iMFdirect
The planet’s most successful species are the great cooperators: ants, bees, termites, and humans.
In an article in the new issue of Finance & Development magazine, President Bill Clinton shares his experience working with governments, business, and civil society as part of his Clinton Global Initiative.
He says they are making the most progress in places where people have formed networks of creative cooperation where stakeholders come together to do things better, faster and cheaper than any could alone.
Filed under: Advanced Economies, Africa, Asia, Civil Society, Debt Relief, Economic Crisis, Emerging Markets, Employment, Europe, Finance, Fiscal policy, Globalization, growth, IMF, Inequality, International Monetary Fund, Latin America, Middle East, Multilateral Cooperation | Tagged: Africa, agriculture, Bolsa Familia, Brazil, business, business leaders, Canada, capital markets, Clinton Global Initiative, Coca-Cola, Colombia, cooperation, developing countries, domestic food security, Economics, economy, exports, farmers, Fundacíon Carlos Slim, Fundacíon Pies Descalzos, Gap Inc., governments, growth, Haiti, HIV/AIDS, IMF, iMFdirect, imports, infrastructure, International Monetary Fund, investment, Ira Magaziner, Ireland, Latin America, Malawi, mining industry, networks, NGOs, Norway, philanthropists, poverty, President Bill Clinton, private sector, small and medium-sized enterprises, the United Kingdom, tourism, United Nations General Assembly, vocational training | 4 Comments »
Posted on June 27, 2012 by iMFdirect
Our top links for June, 2012 from iMFdirect blog and others:
Filed under: Advanced Economies, Africa, Asia, Economic Crisis, Economic outlook, Economic research, Emerging Markets, Employment, Europe, Finance, Financial Crisis, Fiscal policy, Globalization, growth, Inequality, International Monetary Fund, Investment, Latin America, LICs, Middle East, Multilateral Cooperation, Politics, Public debt | Tagged: Africa, Arab, Asia, Brazil, China, Cote d’Ivoire, debt relief, energy, environment, euro, Facebook, Finance & Development magazine, Google+, green, imbalances, iMFdirect blog, India, inequality, Japan, LICs, Middle East, oil, poor, Top links | 2 Comments »
Posted on June 19, 2012 by iMFdirect
By Min Zhu
Putting an accurate price on pollution is something the world has been struggling with now for decades. Getting prices to reflect environmental damage will help slow pollution by encouraging people and firms to change their behavior and shift away from activities and products that pollute the planet. Paying true prices is something we need to do if we want to keep economic development on an environmentally sustainable track.
Behind the concept of sustainable development lies a bold vision of the future, or “The Future We Want,” as Ban Ki-Moon puts it. It is about the vitality of our global economy, the harmony of our global society, the nurturing of our global inheritance.
It is about laying the foundation so that every single person can flourish and reach their true potential.
Eyes on Rio
This week the world is looking to Rio de Janeiro as those of us gathered there for the Rio+20, United Nations Conference on Sustainable Development affirm our commitment to sustainable development—the idea that we should strive for economic growth, environmental protection, and social progress at the same time.
Filed under: Advanced Economies, Africa, Asia, Economic research, Emerging Markets, Europe, Globalization, growth, IMF, International Monetary Fund, Latin America, Low-income countries, Middle East, Multilateral Cooperation, Politics | Tagged: Africa, Ban Ki-Moon, carbon tax, Climate change, fossil fuels, green, India, natural disasters, pricing, rainfall, Rio+20, sustainable, The Future We Want, United Nations Conference on Sustainable Development | 6 Comments »