Invest in Africa


by IMFBlog

As the Group of Twenty finance ministers and central bank governors meet in Germany this week, policymakers are looking to increase investment in Africa.

Jamie Drummond is co-founder of ONE Campaign, and in this podcast he says it’s no surprise Africa is on the agenda. Continue reading

The Fruits of Growth: Economic Reforms and Lower Inequality


Lagarde.2015MDPORTRAIT4_114x128By Christine Lagarde

Versions in: عربي (Arabic), 中文 (Chinese), Français (French), 日本語 (Japanese), Português (Portuguese), Русский (Russian), and Español (Spanish)

Growth is essential for improving the lives of people in low-income countries, and it should benefit all parts of society.

Traveling through Africa in the last few days, I have been amazed by the vitality I have witnessed: business startups investing in the future, new infrastructure under construction, and a growing middle class. Many Africans are now making a better living and fewer are suffering from poverty. My current host, Uganda, for example, has more than halved its absolute poverty rate to about 35 percent from close to 90 percent in 1990.

But we have also seen a flip side. Poverty, of course, but inequality as well remain stubbornly high in most developing countries, including in Africa, and too often success is not shared by all.  Continue reading

Five Lessons from a Review of Recent Crisis Programs


Vivek Arora.Feb2015-thumbBy Vivek Arora

Version in 中文 (Chinese), Español (Spanish)

IMF lending increased to unprecedented levels in the aftermath of the global financial crisis. As difficulties emerged, we extended financial support to countries across the world—in the euro area, Africa, Asia, the Middle East, and emerging economies in Europe.

The IMF tried to draw lessons in real time as the crisis evolved in order to adapt our operations. We reviewed individual programs and, from time to time, paused and took stock of our experience across countries.

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Africa Pausing


Jeff HaydenBy Jeff Hayden

Strong performance by many African economies over the past two decades led some commentators to coin the term “Africa Rising” to describe the region’s surging economic power.

The term graced the cover of TIME magazine in December 2012, in an issue that chronicled the region’s decades-long journey from economic anemia to impressive vigor. Beginning in the mid-1990s, many—but certainly not all—countries in sub-Saharan Africa energized their economies, achieving in recent years some of the world’s highest growth. Living standards improved as a result, as did health care and other key services, inspiring hope for a bright future.

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Addition by Subtraction: How Diasporas Can Boost Home-Country Growth


Pritha Mitra-blogpicBy Pritha Mitra

Version in عربي (Arabic)

Every year, millions of people leave their countries of birth in search of better opportunities abroad. Often, these migrants are among the most talented workers in their home countries. At first glance, this is a loss for the home countries, which invested considerable time and money in educating and developing these people, only to watch them leave. But look again.

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Capacity Development in Africa: the Faces behind the Numbers


By Carla Grasso CGrasso

Versions in:  عربي (Arabic),  中文 (Chinese), Français (French),  日本語 (Japanese), Português (Portuguese), Русский (Russian), and Español (Spanish)

If there’s one thing all economists can agree on, it’s the importance of numbers. Without good data, it is difficult to assess how an economy is performing and formulate smart policies that help improve lives. Continue reading

Competitiveness in Sub-Saharan Africa: Time to Move Ahead


Antoinette Sayeh2

By Antoinette Sayeh

(Versions in EspañolFrançais, and Português)

The sub-Saharan Africa region is facing severe shocks associated with the steep decline in commodity prices and tightening global financial conditions. Against this background, it’s a good time to look back at the region’s recent growth experience and examine the relationship between growth rates and competitiveness. The extent to which sub-Saharan African companies are able to compete against their foreign competitors (that is, the extent to which they are competitive) could indeed play a role in sustaining growth going ahead.

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