I Introduction
Author: Mr. Saleh M. Nsouli and Justin B. Zulu1
  • 1 0000000404811396https://isni.org/isni/0000000404811396International Monetary Fund
Language:
English
Keywords:
OP; deficit; rate of inflation; current account position; country; capital goods; sluggish economic growth; prices of imports; fund staff estimate; Terms of trade

Abstract

This paper reviews recent experience of African countries in the design and implementation of adjustment programs supported by use of Fund resources.1 The aggregate analysis covers primarily 1980 and 1981, while the case studies include results through the end of 1983. The paper is divided into seven parts. The first part outlines the economic background leading to the emergence or aggravation of financial imbalances in Africa before 1980. The second part reviews the role of the Fund in financing and adjustment. The third part examines the objectives of programs supported by use of Fund resources. Against this background, the fourth part analyzes the design of programs. The fifth part assesses the experience in implementing adjustment programs, with a view to determining the reasons for the difficulties that these countries encountered. The sixth part provides case studies of the recent adjustment programs of Somalia and Mali, which were supported by use of Fund resources. The conclusion summarizes the study’s main findings.

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Cover Adjustment Programs in Africa
Adjustment Programs in Africa
The Recent Experience
Author: Mr. Saleh M. Nsouli and Justin B. Zulu
ISBN:
9781557750563
ISSN:
0251-6365
Publication Date:
15 Apr 1985
Publisher:
International Monetary Fund
DOI:
https://doi.org/10.5089/9781557750563.084
Pages:
40

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