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International Monetary Fund. African Dept.

Abstract

Sub-Saharan Africa is struggling to navigate an unprecedented health and economic crisis—one that, in just a few months, has jeopardized decades of hard-won development gains and upended the lives and livelihoods of millions.

Mr. Antonio Spilimbergo
Research summaries on (1) measuring inflation, and (2) strengthening Poverty Reduction and Growth Facility (PRGF) programs through poverty and social impact analysis (PSIA); country study on Spain; listing of contents of Vol. 53, Special Issue of IMF Staff Papers, summary of recently published IMF book entitled "IMF-Supported Programs: Recent Staff Research"; listings of recent external publications by IMF staff members, IMF Working Papers, and visiting scholars at the IMF during January-August 2006.
Boriana Yontcheva, Mr. Peter Isard, Mr. Leslie Lipschitz, and Mr. Alex Mourmouras

Abstract

Relatively slow progress toward meeting the Millennium Development Goals (MDGs) by their 2015 target date has added urgency to the challenge of reducing global poverty. The authors of this new book--who include scholars from the IMF, World Bank, Oxford University, and the Center for Global Development--argue that the MDGs cannot be achieved without a substantial scaling up of foreign aid. They show how such increased aid flows must be managed effectively to ensure the greatest benefit. And they offer analysis and insight on a variety of macroeconomic policy implications that both donors and recipients should consider.

International Monetary Fund. External Relations Dept.
This paper explores why increased aid flows require economic policymakers to confront some specific issues. Ensuring that increased aid promotes growth and reduces poverty is certainly the most important task. Empirical studies offer only mild support for aid-boosting growth. However, one study suggests that once one excludes the aid flows aimed at political and humanitarian goals, a positive net effect is observed for the remaining aid focused on economic objectives. This paper also outlines the roles to be played by development partners for making the aid being properly utilized for boosting growth.
International Monetary Fund

Abstract

The year 2005 marks an important juncture for development as the international community takes stock of implementation of the Millennium Declaration—signed by 189 countries in 2000—and discusses how progress toward the Millennium Development Goals (MDGs) can be accelerated. The MDGs set clear targets for reducing poverty and other human deprivations and for promoting sustainable development. What progress has been made toward these goals, and what should be done to accelerate it? What are the responsibilities of developing countries, developed countries, and international financial institutions? Global Monitoring Report 2005 addresses these questions. This report, the second in an annual series assessing progress on the MDGs and related development outcomes, has a special focus on Sub-Saharan Africa—the region that is farthest from the development goals and faces the toughest challenges in accelerating progress. The report finds that without rapid action to accelerate progress, the MDGs will be seriously jeopardized—especially in Sub-Saharan Africa, which is falling short on all the goals. It calls on the international community to seize the opportunities presented by the increased global attention to development to build momentum for the MDGs. The report presents in-depth analysis of the agenda and priorities for action. It discusses improvements in policies and governance that developing countries need to make to achieve stronger economic growth and scale up human development and relevant key services. It examines actions that developed countries need to take to provide more and better development aid and to reform their trade policies to improve market access for developing country exports. And it evaluates how international financial institutions can strengthen and sharpen their support for this agenda. Global Monitoring Report 2005 is essential reading for development practitioners and those interested in international affairs.

Mr. Benedict J. Clements, Mr. Sanjeev Gupta, and Ms. Gabriela Inchauste

Abstract

Fiscal policy can foster growth and human development through a number of different channels. These include the macroeconomic (for example, through the influence of the budget deficit on growth) as well as the microeconomic (through its influence on the efficiency of resource use). But how precisely do these channels work in developing countries? What kinds of tax and expenditure policies should developing countries implement to help them meet the Millennium Development Goals? And how can international aid be made more effective? Drawing on both theory and country experience, this book brings together IMF research on the various ways fiscal policy can be used to help spur economic development.

International Monetary Fund. External Relations Dept.
For the latest thinking about the international financial system, monetary policy, economic development, poverty reduction, and other critical issues, subscribe to Finance & Development (F&D). This lively quarterly magazine brings you in-depth analyses of these and other subjects by the IMF’s own staff as well as by prominent international experts. Articles are written for lay readers who want to enrich their understanding of the workings of the global economy and the policies and activities of the IMF.
International Monetary Fund
Ethiopia showed commendable performance under the Poverty Reduction and Growth Facility (PRGF) Arrangement. Executive Directors appreciated this development, and emphasized the need to strengthen fiscal and monetary policies, enhance revenues, strengthen public expenditure management, and introduce poverty-related activities. They welcomed the restructuring plan for the Commercial Bank of Ethiopia, and stressed the need to strengthen the organizational structure and finances of the National Bank of Ethiopia. They agreed that Ethiopia has successfully completed the fifth review under the PRGF program, and approved further financial assistance.
International Monetary Fund. External Relations Dept.
Pour les dernières idées sur le système financier international, la politique monétaire, le développement économique, la lutte contre la pauvreté et d’autres questions importantes, abonnez-vous à Finances & Développement (F&D). Ce trimestriel attrayant présente des analyses approfondies sur ces thèmes et d'autres sujets, rédigées par les membres des services du FMI ainsi que par des experts de renommée internationale. Les articles sont écrits pour les non-spécialistes qui souhaitent enrichir leur compréhension des rouages de l'économie mondiale et des politiques et activités du FMI.
International Monetary Fund. External Relations Dept.
Para estar al corriente del pensamiento actual sobre el sistema financiero internacional, la política monetaria, el desarrollo económico, la reducción de la pobreza y otros temas cruciales, suscríbase a Finanzas y Desarrollo. Esta amena revista trimestral ofrece análisis profundos del personal técnico del FMI y destacados expertos internacionales sobre estas y otras cuestiones. Los artículos están dirigidos a un público no especializado que desea comprender mejor el funcionamiento de la economía mundial y las políticas y actividades del FMI.