Browse

You are looking at 1 - 10 of 48 items for :

  • South Africa x
Clear All
Mr. Joannes Mongardini, Mr. Tamon Asonuma, Olivier Basdevant, Mr. Alfredo Cuevas, Mr. Xavier Debrun, Lars Holger Engstrom, Imelda M. Flores Vazquez, Mr. Vitaliy Kramarenko, Mr. Lamin Y Leigh, Mr. Paul R Masson, and Ms. Genevieve Verdier

Abstract

The Southern African Customs Union (SACU) is the oldest customs union in the world, with significant opportunities ahead for creating higher economic growth and increased welfare benefits to the people of the region, by fulfilling its vision to become an economic community with a common market and monetary union. This volume describes policy options to address the barriers to equitable and sustainable development in the region and outlines a plan for deeper regional integration.

Mr. Joachim Harnack, Mr. Sérgio Pereira. Leite, Ms. Stefania Fabrizio, Ms. Luisa Zanforlin, Mr. Girma Begashaw, and Mr. Anthony J. Pellechio

Abstract

This chapter explores the key relationships between participatory democracy and successful economic development and reviews the early steps of participatory decision making in Ghana. More generally, it sets the stage for a discussion of Ghana's main achievements and failures since 1992 in raising the standard of living of its population and reducing poverty. The high-profile political process that launched constitutional democracy in the 1990s and generated Ghana—Vision 2020 placed poverty reduction at the center of economic policy. Based on a set of price and unit labor cost indicators, Ghana's competitiveness improved in the early 1990s through 1994. The evidence for 1995–98 is quite strong. The Bank of Ghana is suspected to have used administrative means and moral suasion to influence the exchange rate, resisting the cedi's depreciation. The terms-of-trade shock forced the Bank of Ghana to focus more clearly on maintaining adequate foreign reserves. The depreciation may then have helped make the foreign exchange market more active and the nominal exchange rate more representative of market conditions.

Mr. Joachim Harnack, Mr. Sérgio Pereira. Leite, Ms. Stefania Fabrizio, Ms. Luisa Zanforlin, Mr. Girma Begashaw, and Mr. Anthony J. Pellechio

Abstract

In 1992 Ghana held its first elections in over a decade, taking a decisive step in the return to democratic rule. Although many countries in Africa moved to democracy in the 1990s, Ghana had reached that point only after a virtual meltdown in the early 1980s. What has been all the more laudable in Ghana’s case is therefore the steady progress since the return to democratic rule in enhancing a democratic environment.

Mr. Arvind Subramanian

Abstract

Since the early 1990s, many countries in sub-Saharan Africa have made significant progress in opening their economies to external competition through trade and exchange liberalization, often in the context of IMF and World Bank-supported programs. African liberalization took place during a period of increasing globalization of trade and investment, the conclusion of the Uruguay Round of trade negotiations, and the creation or expansion of a number of important regional trade arrangements in other parts of the world. These initiatives contributed to a revival of interest among African policymakers in regional integration, resulting in the establishment or renewal of regional organizations, such as the West African Economic and Monetary Union (WAEMU), the Cross-Border Initiative (CBI), the Southern African Development Community (SADC), the Common Market for Eastern and Southern Africa (COMESA), the Commission for East African Cooperation (EAC), and the Indian Ocean Commission (IOC) (Table 1.1).

International Monetary Fund. Statistics Dept.

Abstract

International Financial Statistics provides a complete library of continuously updated international statistics on all aspects of international and domestic finance. The monthly print edition contains over 1,000 pages of statistical data in each issue. It reports, for most countries of the world, current data needed in the analysis of problems of international payments and of inflation and deflation, i.e., data on exchange rates, international liquidity, money and banking, interest rates, prices, production, international transactions, government accounts, and national accounts. Information is presented in country tables and in tables of area and world aggregates.

Mr. Arvind Subramanian

Abstract

The 22 eastern and southern African countries covered in this study vary considerably in population, size, and economic profile (Table 2.1). Population size varies from fewer than 80,000 people in Seychelles to about 62 million people in Ethiopia. The average per capita income of about US$1,100 also masks large variations across countries. The Seychelles is the richest country, with a per capita GDP of about US$6,000 at 1990 prices, while the Democratic Republic of Congo (DRC) stands as the poorest country, with an income per capita of US$99 (a ratio of 60 to 1). There is also a wide variation in income inequality among countries. For example, the Gini coefficient, which measures income inequality, varies from 29 in Rwanda to 59 in South Africa, the latter being among the highest in the world.

Mr. Joachim Harnack, Mr. Sérgio Pereira. Leite, Ms. Stefania Fabrizio, Ms. Luisa Zanforlin, Mr. Girma Begashaw, and Mr. Anthony J. Pellechio

Abstract

The high-profile political process that launched constitutional democracy in the 1990s and generated Ghana– Vision 2020 placed poverty reduction at the center of economic policy. The main themes of Ghana– Vision 2020 were economic growth, investment in human capital, rural development, and an enabling environment for private entrepreneurship and investment. These themes were carried into the medium-term program for the first five-year period of the strategy, 1996–2000, with human development as the focus for efforts at poverty reduction (Government of Ghana, 1997a). The basic goals in this area were to improve health, life expectancy, and the capabilities of all persons; eliminate extreme deprivation; and ensure an equitable distribution of the benefits of development.

Mr. Joachim Harnack, Mr. Sérgio Pereira. Leite, Ms. Stefania Fabrizio, Ms. Luisa Zanforlin, Mr. Girma Begashaw, and Mr. Anthony J. Pellechio

Abstract

In the period following the 1966 military coup that overthrew Ghana’s first president, political unrest and centralized, inward-looking development policies led to declining GDP per capita and soaring inflation. In the early 1980s, the difficult political situation was accompanied by a deterioration of the terms of trade, large fiscal imbalances, and rising inflation, which led the country to its worst economic crisis since independence. By 1983 real GDP per capita had fallen to close to half its level of the late 1960s.