This paper assesses and disseminates experiences and lessons from low-income countries (LICs) in Sub-Saharan Africa that were selected by the Africa Department in 2015-16 as pilots for enhanced analysis of macro-financial linkages in Article IV staff reports. The paper focuses on the common characteristics across the pilot countries and highlights the tools used in the analysis, the challenges encountered, and the solutions deployed in overcoming them.
International Monetary Fund. External Relations Dept.
This paper examines the IMF’s role in the changing world. Faced with mounting domestic and external financial imbalances, numerous African countries adopted adjustment programs supported by the use of IMF resources during 1980–81. Considerable emphasis has been given to economic growth in programs under consideration and most aimed for an increase in economic growth during the program year. Although programs generally emphasized an improvement in the external sector position, medium-term considerations did not always allow for an improvement in the current account position.