The intrinsic links between climate change and the COVID-19 pandemic have elevated global calls for policymakers to take immediate action on both fronts. Fiscal stimulus supporting recovery from the pandemic can be designed to simultaneously address climate change. In turn, this could help reduce the spread of future pandemics as climate change is a threat multiplier for pandemics. Destruction of the environment and biodiversity makes pandemics more likely while pollution and other man-made factors driving climate change weaken the health of human beings, raising their vulnerability to viruses and other diseases.
Every second, the region has averaged 106 new internet users.1 This fast-paced digital revolution holds the promise of transforming economies and people’s lives. It takes on added importance as countries across the region grapple with the unprecedented health and socio-economic fallout of the COVID-19 pandemic. All policy levers are being deployed to protect lives and livelihoods. Digital solutions have helped to provide more resilience and allowed for rapid, flexible, and inclusive policy responses to the pandemic.
At the dawn of the twenty-first century, Africa is at a crossroads. It must quickly select the path it wishes to follow. Either the continent takes its destiny squarely into its own hands, or it leaves the shaping of its future to chance or to special interests. Africa does indeed have a choice. On one hand, it can allow the forces of implosion and ethnic warfare to become the masters of its fate, to the advantage of a few potentates lacking in vision or warlords with transient alliances. Thus, history would repeat itself, with all the suffering that this entails, and this old continent will be at the mercy of all types of corruption. Africa would be stripped of the wealth of its soil and the promise of its youth and left marginalized, adrift in the wake of history.
I am honored to be here to share with you the IMF’s thoughts on the turbulent events of the past two years and what lies ahead. With growing signs that the worst of the financial crisis is over, we now have an opportunity to reflect on the weaknesses revealed and remedies needed. But that does not mean that we can afford to be complacent. We are being given a chance to right the wrongs, and delay would only sow the seeds of the next crisis.
This volume, edited by Michel A. Dessart and Roland E. Ubogu, records the presentations made and discussions held during the Inaugural Seminar of the Joint Africa Institute (JAI). The JAI was established in Abidjan, Côte d'Ivoire, by the African Development Bank, the IMF, and the World Bank to meet the pressing training needs of the African continent. The participants discussed four main topics: the changing role of the state, governance, and new capacity requirements; the challenge of achieving macroeconomic stability in Africa; the requirement for capacity building in Africa; and the role of international financial institutions in capacity building in Africa. The seminar was held in November 1999, but the topics and recommendations of the seminar remain current and of particular importance today. The seminar was held in English and French, and both language versions are contained in this volume. 240 pp. 2001
Sub-Saharan Africa is facing an unprecedented health and economic crisis. One that threatens to throw the region off its stride, reversing the encouraging development progress of recent years. Furthermore, by exacting a heavy human toll, upending livelihoods, and damaging business and government balance sheets, the crisis threatens to slow the region’s growth prospects in the years to come. Previous crises tended to affect countries in the region differentially, but no country will be spared this time.
Uganda’s National Development Plan (NDP) stipulates medium-term strategic direction, development priorities, and implementation strategies. It also details Uganda’s current development status, challenges, and opportunities. The contribution of this NDP to the socioeconomic transformation will be demonstrated by improved employment levels, higher per capita income, improved labor force distribution in line with sectoral GDP shares, substantially improved human development and gender equality indicators, and the country’s competitiveness position, among others. The impressive GDP growth performance has contributed to a significant reduction in poverty levels.
This report summarizes the Annual Progress Report of Uganda on the Poverty Reduction Strategy Paper, which highlights the progress and outcomes of implementation of the Poverty Eradication Action Plan (PEAP) policies and programs. It provides assessments on achievements and problematic areas in implementing the PEAP as well as recommendations on the corrective measures to meet Uganda's poverty reduction targets. It also reviews governance and security, and discusses ways to increase the ability of the poor to raise their income, and to improve the quality of life of the poor.
Recent micro level data from East Africa is used to benchmark aggregate data and assess the role of agricultural inputs in explaining variation in crop yields on smallholding plots. Fertilizer, improved seeds, protection against erosion and pesticides improve crop yields in Rwanda and Ethiopia, but not Uganda, possibly associated with lack of use there. With all positive yield determinants in place, wheat and maize yields could increase fourfold.
The data hints at the negative effect of climate change on yields and the benefits of accompanying measures to mitigate its adverse impact (access to finance and protection against erosion). The adverse effect of crop damage on yields varies between 12/13 percent (Rwanda, Uganda) to 36 percent (Ethiopia). Protection against erosion and investment financing mitigate these effects considerably.
Bin Grace Li, Mr. Stephen A. O'Connell, Mr. Christopher S Adam, Mr. Andrew Berg, and Mr. Peter J Montiel
VAR methods suggest that the monetary transmission mechanism may be weak and unreliable in
low-income countries (LICs). But are structural VARs identified via short-run restrictions capable
of detecting a transmission mechanism when one exists, under research conditions typical of these
countries? Using small DSGEs as data-generating processes, we assess the impact on VAR-based
inference of short data samples, measurement error, high-frequency supply shocks, and other
features of the LIC environment. The impact of these features on finite-sample bias appears to be
relatively modest when identification is valid—a strong caveat, especially in LICs. However,
many of these features undermine the precision of estimated impulse responses to monetary policy
shocks, and cumulatively they suggest that “insignificant” results can be expected even when the
underlying transmission mechanism is strong.