African External Finance In The 1990s
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Author | : Ishrat Husain |
Publisher | : |
Total Pages | : 208 |
Release | : 1991 |
Genre | : Business & Economics |
ISBN | : |
External financing for sub-Saharan Africa is a vexing problem with no easy solutions. The regions' macroeconomic policies, domestic savings, and efficiency of resource use - all generally poor - impinge heavily on the size, growth, and timing of external finance. The papers in this symposium volume assume the following: (a) that structural adjustment efforts in most African countries will be intensified and strengthened; (b) macroeconomic imbalances and microeconomic distortions will be minimized if not eliminated; (c) trade, investment policies, and regulatory framework will be streamlined; (d) private savings and investment will be encouraged through financial liberalization; and (e) public investment programs will complement private sector initiative and concentrate on infrastructural deficiencies and human resource development. This volume restates only the essential ingredients of a strategy for resuming growth.
Author | : |
Publisher | : World Bank Publications |
Total Pages | : 94 |
Release | : 1991 |
Genre | : Africa |
ISBN | : |
Africa's external financing problem is much more than a structural imbalance between imports and exports. Debt relief measures will be an important source of financing.
Author | : I. G. Patel |
Publisher | : International Monetary Fund |
Total Pages | : 312 |
Release | : 1992-12-15 |
Genre | : Business & Economics |
ISBN | : 155775232X |
Despite economic hardships during the past 20 years, Africa has recently enjoyed positive real economic growth, transformed its economic structures and systems, and improved living standards. Much of this owes to the determined pursuit of growth-oriented adjustment efforts, with IMF support, by nearly 30 African countries. Edited by I.G. Patel, this volume discusses progress made by Africa in the 1980s and prospects and needs for continued development in the 1990s.
Author | : Sheila Page |
Publisher | : Rowman & Littlefield |
Total Pages | : 478 |
Release | : 1990 |
Genre | : Business & Economics |
ISBN | : 9780389208907 |
The author presents a detailed analysis of the past performance of a large range of developing countries. They are used to examine the opportunities facing other countries in the 1990s. Analysis of the successes of the Newly Industrialising countries has always emphasized the important role of exports-a view reinforced by the problems faced by those countries who have pursued inward-looking strategies and by the impact of the debt crisis in the 1980s. The author shows how national policies have not simply responded to external opportunities, but have used them and adapted their own strategies to international conditions. She also demonstrates the increasing importance of financing constraints. The reduction in the availability of external finance and the restrictions on the type available places a serious limitation on the choice of trade policies and therefore on industrial and development strategies that can be pursued.
Author | : Mr.Mohsin S. Khan |
Publisher | : International Monetary Fund |
Total Pages | : 336 |
Release | : 2000-05-12 |
Genre | : Business & Economics |
ISBN | : 9781557757913 |
Mounting external debt and large-scale capital flight have been at the forefront of Africa's economic problems since the 1980s. External Debt and Capital Flight in Sub-Saharan Africa, edited by S. Ibi Ajayi and Mohsin S. Khan, takes a penetrating look at debt and capital flight during the 1990s in Ghana, Kenya, Nigeria, Tanzania, and Uganda. The book describes the size and composition of debt in the selected countries and examines the causes of the debt buildup. It also assesses the extent of capital flight and suggests ways of stemming the flight of financial resources.
Author | : Carol Lancaster |
Publisher | : Peterson Institute |
Total Pages | : 104 |
Release | : 1991 |
Genre | : Business & Economics |
ISBN | : 9780881320961 |
This study proposes a new initiative involving the cancellation of concessional rescheduling of public bilateral debt of reforming African countries through a new international mechanism that would replace existing ones such as the Paris Club and the World Bank Consultative Groups. Each of a series of Adjustment Review Consortia would bring together representatives of donor and creditor governments international aid and development agencies, and an African government to coordinate debt relief, aid, and reform initiatives. Properly implements, ARCs would contribute to building a system in which economic need and performance, not political favoritism, play the principal roles in how debt and external financing in general are managed.
Author | : Mr.Simeon Inidayo Ajayi |
Publisher | : International Monetary Fund |
Total Pages | : 63 |
Release | : 1997-06-01 |
Genre | : Business & Economics |
ISBN | : 1451961111 |
The general objective of this study is to analyze the external debt and debt burdens of the severely indebted sub-Saharan African countries, estimate the magnitude of capital flight from them, and relate the estimate of capital flight to some macroeconomic aggregates. The study also contains policy implications of international efforts to deal with the high levels of external debt in sub-Saharan Africa in conditions of extreme poverty, and stagnant and declining exports. It questions the theoretical foundation in which the external debt strategy has been based and offers solutions to the external debt problem.
Author | : Mick Moore |
Publisher | : Bloomsbury Publishing |
Total Pages | : 289 |
Release | : 2018-07-15 |
Genre | : Business & Economics |
ISBN | : 1783604557 |
Taxation has been seen as the domain of charisma-free accountants, lawyers and number crunchers – an unlikely place to encounter big societal questions about democracy, equity or good governance. Yet it is exactly these issues that pervade conversations about taxation among policymakers, tax collectors, civil society activists, journalists and foreign aid donors in Africa today. Tax has become viewed as central to African development. Written by leading international experts, Taxing Africa offers a cutting-edge analysis on all aspects of the continent's tax regime, displaying the crucial role such arrangements have on attempts to create social justice and push economic advancement. From tax evasion by multinational corporations and African elites to how ordinary people navigate complex webs of 'informal' local taxation, the book examines the potential for reform, and how space might be created for enabling locally-led strategies.
Author | : Dambisa Moyo |
Publisher | : Macmillan |
Total Pages | : 209 |
Release | : 2009-03-17 |
Genre | : Business & Economics |
ISBN | : 0374139563 |
Debunking the current model of international aid promoted by both Hollywood celebrities and policy makers, Moyo offers a bold new road map for financing development of the world's poorest countries.
Author | : World Bank |
Publisher | : World Bank Publications |
Total Pages | : 386 |
Release | : 2009-12-01 |
Genre | : Business & Economics |
ISBN | : 0821380834 |
Sustainable infrastructure development is vital for Africa s prosperity. And now is the time to begin the transformation. This volume is the culmination of an unprecedented effort to document, analyze, and interpret the full extent of the challenge in developing Sub-Saharan Africa s infrastructure sectors. As a result, it represents the most comprehensive reference currently available on infrastructure in the region. The book covers the five main economic infrastructure sectors information and communication technology, irrigation, power, transport, and water and sanitation. 'Africa s Infrastructure: A Time for Transformation' reflects the collaboration of a wide array of African regional institutions and development partners under the auspices of the Infrastructure Consortium for Africa. It presents the findings of the Africa Infrastructure Country Diagnostic (AICD), a project launched following a commitment in 2005 by the international community (after the G8 summit at Gleneagles, Scotland) to scale up financial support for infrastructure development in Africa. The lack of reliable information in this area made it difficult to evaluate the success of past interventions, prioritize current allocations, and provide benchmarks for measuring future progress, hence the need for the AICD. Africa s infrastructure sectors lag well behind those of the rest of the world, and the gap is widening. Some of the main policy-relevant findings highlighted in the book include the following: infrastructure in the region is exceptionally expensive, with tariffs being many times higher than those found elsewhere. Inadequate and expensive infrastructure is retarding growth by 2 percentage points each year. Solving the problem will cost over US$90 billion per year, which is more than twice what is being spent in Africa today. However, money alone is not the answer. Prudent policies, wise management, and sound maintenance can improve efficiency, thereby stretching the infrastructure dollar. There is the potential to recover an additional US$17 billion a year from within the existing infrastructure resource envelope simply by improving efficiency. For example, improved revenue collection and utility management could generate US$3.3 billion per year. Regional power trade could reduce annual costs by US$2 billion. And deregulating the trucking industry could reduce freight costs by one-half. So, raising more funds without also tackling inefficiencies would be like pouring water into a leaking bucket. Finally, the power sector and fragile states represent particular challenges. Even if every efficiency in every infrastructure sector could be captured, a substantial funding gap of $31 billion a year would remain. Nevertheless, the African people and economies cannot wait any longer. Now is the time to begin the transformation to sustainable development.