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Ghana
			: Seventh and Eighth Reviews Under the Extended Credit Facility Arrangement and Request for Waivers of Nonobservance of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Ghana

Ghana : Seventh and Eighth Reviews Under the Extended Credit Facility Arrangement and Request for Waivers of Nonobservance of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Ghana »

Volume/Issue: 2019/97

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 April 2019

DOI: http://dx.doi.org/10.5089/9781498306638.002

ISBN: 9781498306638

Keywords: Credit, Revenue mobilization, Fiscal risk, Debt sustainability, Monetary policy, primary balance, SOEs, Proj, percent of GDP, excl

These are the last two reviews of Ghana's Extended Credit Facility arrangement, approved by the Executive Board on April 3, 2015. The ECF-supported program was extended by one year on August 30, 2017, to end on Apr...

A Governance Dividend for Sub-Saharan Africa?

A Governance Dividend for Sub-Saharan Africa? »

Volume/Issue: 2019/1

Series: IMF Working Papers

Author(s): Amine Hammadi , Marshall Mills , Nelson Sobrinho , Vimal Thakoor , and Ricardo Velloso

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 January 2019

DOI: http://dx.doi.org/10.5089/9781484354872.001

ISBN: 9781484354872

Keywords: Zambia, Zimbabwe, Congo, Democratic Republic of the, Congo, Republic of, Rwanda, Senegal, Seychelles, Sierra Leone, South Africa, Sub-Saharan Africa

Countries in Sub-Saharan Africa (SSA) tend to lag those in most other regions in terms of governance and perceptions of corruption. Weak governance undermines economic performance through various channels, includin...

Statement by the Managing Director on the Work Program of the Executive Board

Statement by the Managing Director on the Work Program of the Executive Board »

Volume/Issue: 2018/056

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 November 2018

DOI: http://dx.doi.org/10.5089/9781498310253.007

ISBN: 9781498310253

Keywords: External sector, Development policy, Economic growth, Trade policy, Interest rate structures, WEO, multilateral trade system, capacity development, progress report, general review

"This Work Program (WP) translates the strategic directions and policy priorities laid out in the Fall 2018 Global Policy Agenda and the International Monetary and Financial Committee Communiqué into an Executive...

Regional Spillovers in Sub-Saharan Africa
			: Exploring Different Channels

Regional Spillovers in Sub-Saharan Africa : Exploring Different Channels »

Volume/Issue: 2018/1

Series: Spillover Notes

Author(s): Francisco Arizala , Matthieu Bellon , Margaux MacDonald , Montfort Mlachila , and Mustafa Yenice

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2018

DOI: http://dx.doi.org/10.5089/9781484367148.062

ISBN: 9781484367148

Keywords: Uganda, Togo, Tanzania, Swaziland, South Sudan, Spillovers, Sub-Saharan Africa, Sierra Leone, Congo, Republic of, Congo, Democratic Republic of the

After close to two decades of strong economic activity, overall growth in sub-Saharan Africa decelerated markedly in 2015-16 as the largest economies experienced negative or flat growth. Regional growth started rec...

Lessons for Effective  Fiscal Decentralization in  Sub-Saharan Africa

Lessons for Effective Fiscal Decentralization in Sub-Saharan Africa »

Volume/Issue: 2018/10

Series: Departmental Papers / Policy Papers

Author(s): Niko Hobdari , Vina Nguyen , Salvatore Dell'Erba , and Edgardo Ruggiero

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 July 2018

DOI: http://dx.doi.org/10.5089/9781484358269.087

ISBN: 9781484358269

Keywords: Kenya, Ghana, Guinea, Lesotho, Liberia, Madagascar, Malawi, Mali, Mauritania, Mauritius

Fiscal decentralization is becoming a pressing issue in a number of countries in sub-Saharan Africa, reflecting demands for a greater local voice in spending decisions and efforts to strengthen social cohesion. Aga...

Public Investment Efficiency in Sub-Saharan African Countries

Public Investment Efficiency in Sub-Saharan African Countries »

Volume/Issue: 2018/9

Series: Departmental Papers / Policy Papers

Author(s): Karim Barhoumi , Ha Vu , Shirin Nikaein Towfighian , and Rodolfo Maino

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 July 2018

DOI: http://dx.doi.org/10.5089/9781484360019.087

ISBN: 9781484360019

Keywords: Angola, Benin, Botswana, Burkina Faso, Burundi, Cameroon, Central African Republic, Chad, Comoros, Djibouti

There is significant room to improve public investment efficiency in sub-Saharan Africa. Investment in sub-Saharan African countries is lagging vis-à-vis peers such as emerging and developing Asia as well as Latin...

Ghana
			: Fifth and Sixth Reviews Under the Extended Credit Facility, Request for Waivers for Nonobservance of Performance Criteria, and Request for Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Ghana

Ghana : Fifth and Sixth Reviews Under the Extended Credit Facility, Request for Waivers for Nonobservance of Performance Criteria, and Request for Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Ghana »

Volume/Issue: 2018/113

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 May 2018

DOI: http://dx.doi.org/10.5089/9781484353714.002

ISBN: 9781484353714

Keywords: Ghana

Program performance improved in 2017 and macroeconomic conditions have strengthened considerably. Growth increased on the back of expanded oil production; inflation declined; the fiscal deficit was significantly re...

Monetary Policy in Sub-Saharan Africa

Monetary Policy in Sub-Saharan Africa »

Series: Books

Author(s): Andrew Berg , and Rafael Portillo

Publisher: Oxford University Press

Publication Date: 27 April 2018

DOI: http://dx.doi.org/10.5089/9780198785811.071

ISBN: 9780198785811

Keywords: Monetary policy, Sub-Saharan Africa

Monetary policy in sub-Sahara Africa (SSA) has undergone an important transformation in recent decades. With the advent of sustained growth and generally stable fiscal policies in much of the region, many countries...

Medium-Term Budget Frameworks in Sub-Saharan African Countries

Medium-Term Budget Frameworks in Sub-Saharan African Countries »

Volume/Issue: 2017/203

Series: IMF Working Papers

Author(s): Richard Allen , Taz Chaponda , Lesley Fisher , and Rohini Ray

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 September 2017

DOI: http://dx.doi.org/10.5089/9781484314203.001

ISBN: 9781484314203

Keywords: Zambia, Congo, Republic of, Congo, Democratic Republic of the, Zimbabwe, Uganda, Togo, Tanzania, Sudan, Swaziland, Sub-Saharan Africa

More than 15 years ago, many countries in sub-Saharan Africa embarked on a program of budgetary reform, an important element of which was a medium-term budget framework (MTBF). This working paper focuses on the per...

Growth Breaks and Growth Spells in Sub-Saharan Africa

Growth Breaks and Growth Spells in Sub-Saharan Africa »

Volume/Issue: 2017/202

Series: IMF Working Papers

Author(s): Francisco Arizala , Jesus Gonzalez-Garcia , Charalambos Tsangarides , and Mustafa Yenice

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 September 2017

DOI: http://dx.doi.org/10.5089/9781484314166.001

ISBN: 9781484314166

Keywords: Africa, Angola, Benin, Botswana, Burkina Faso, Burundi, Cameroon, Central African Republic, Chad, Comoros

This paper examines the growth performance of sub-Saharan African countries since 1960 through the lens of growth turning points (accelerations and decelerations) and periods of sustained growth (growth spells). Gr...

Ghana
			: 2017 Article IV Consultation, Fourth Review Under the Extended Credit Facility Arrangement, Request for Waiver for Nonobservance of Performance Criteria, and Request for Extension and Rephasing of the Arrangement-Press Release; Staff Report; Staff Supplement; and Statement by the Executive Director for Ghana

Ghana : 2017 Article IV Consultation, Fourth Review Under the Extended Credit Facility Arrangement, Request for Waiver for Nonobservance of Performance Criteria, and Request for Extension and Rephasing of the Arrangement-Press Release; Staff Report; Staff Supplement; and Statement by the Executive Director for Ghana »

Volume/Issue: 2017/262

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 September 2017

DOI: http://dx.doi.org/10.5089/9781484317259.002

ISBN: 9781484317259

Keywords: Ghana, Sub-Saharan Africa

Ghana's macroeconomic performance has been mixed, as over the years recurrent policy slippages have amplified the impact of external and domestic shocks, created persistent imbalances, and contributed to high infla...

The Informal Economy in Sub-Saharan Africa
			: Size and Determinants

The Informal Economy in Sub-Saharan Africa : Size and Determinants »

Volume/Issue: 2017/156

Series: IMF Working Papers

Author(s): Leandro Medina , Andrew Jonelis , and Mehmet Cangul

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 July 2017

DOI: http://dx.doi.org/10.5089/9781484305942.001

ISBN: 9781484305942

Keywords: Uganda, South Africa, Rwanda, Senegal, Seychelles, Sierra Leone, Sudan, Swaziland, Tanzania, Togo

The multiple indicator-multiple cause (MIMIC) method is a well-established tool for measuring informal economic activity. However, it has been criticized because GDP is used both as a cause and indicator variable....

Structural Transformation in Employment and Productivity
			: What Can Africa Hope For?

Structural Transformation in Employment and Productivity : What Can Africa Hope For? »

Volume: 17

Series: Departmental Papers / Policy Papers

Author(s): Louise Fox , Alun Thomas , and Cleary Haines

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 April 2017

DOI: http://dx.doi.org/10.5089/9781475583397.087

ISBN: 9781475583397

Keywords: Employment, Productivity, Structural adjustment, Structural transformation, Sub Saharan Africa

This paper provides the most complete analysis of the structural transformation among low- and low-middle-income countries in sub-Saharan Africa to date....

Food Inflation in Sub-Saharan Africa
			: Causes and Policy Implications

Food Inflation in Sub-Saharan Africa : Causes and Policy Implications »

Volume/Issue: 2016/247

Series: IMF Working Papers

Author(s): Emre Alper , Niko Hobdari , and Ali Uppal

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 December 2016

DOI: http://dx.doi.org/10.5089/9781475563115.001

ISBN: 9781475563115

Keywords: South Africa, Seychelles, Sierra Leone, Rwanda, Senegal, Togo, Sub-Saharan Africa, Tanzania, Sudan, Swaziland

This paper analyzes food inflation trends in Sub-Saharan Africa (SSA) from 2000 to 2016 using two novel datasets of disaggregated CPI baskets. Average food inflation is higher, more volatile, and similarly persiste...

Sub-Saharan African Migration
			: Patterns and Spillovers

Sub-Saharan African Migration : Patterns and Spillovers »

Volume/Issue: 2016/09

Series: Spillover Notes

Author(s): Jesus Gonzalez-Garcia , Ermal Hitaj , Montfort Mlachila , Arina Viseth , and Mustafa Yenice

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 November 2016

DOI: http://dx.doi.org/10.5089/9781475546668.062

ISBN: 9781475546668

Keywords: Togo, Tanzania, Uganda, Swaziland, Spillovers, Sub-Saharan Africa, Rwanda, Senegal, Seychelles, Sierra Leone

Amid rapid population growth, migration in sub-Saharan Africa has been increasing briskly over the last 20 years. Up to the 1990s, the stock of migrants-citizens of one country living in another country-was dominat...

Ghana
			: Third Review Under the Extended Credit Facility Arrangement and Request for Waiver for Nonobservance of Performance Criteria, and Modifications of Performance Criteria-Press Release; Staff Report; and Statement by the Excutive Director for Ghana

Ghana : Third Review Under the Extended Credit Facility Arrangement and Request for Waiver for Nonobservance of Performance Criteria, and Modifications of Performance Criteria-Press Release; Staff Report; and Statement by the Excutive Director for Ghana »

Volume/Issue: 2016/321

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 October 2016

DOI: http://dx.doi.org/10.5089/9781475543582.002

ISBN: 9781475543582

Keywords: Extended Credit Facility, Fiscal policy, Fiscal consolidation, Debt management, Energy sector, Public enterprises, Fiscal reforms, Monetary policy, Banking sector, Economic indicators

This paper discusses Ghana's Third Review Under the Extended Credit Facility arrangement and Request for Waiver for Nonobservance of Performance Criteria (PCs), and Modifications of PCs. Program implementation in G...

Financial Development in Sub-Saharan Africa
			: Promoting Inclusive and Sustainable Growth

Financial Development in Sub-Saharan Africa : Promoting Inclusive and Sustainable Growth »

Volume: 16

Series: Departmental Papers / Policy Papers

Author(s): Montfort Mlachila , Ahmat Jidoud , Monique Newiak , Bozena Radzewicz-Bak , and Misa Takebe

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 September 2016

DOI: http://dx.doi.org/10.5089/9781475532401.087

ISBN: 9781475532401

Financial Development in Sub-Saharan Africa...

Cyclical Behavior of Fiscal Policy among Sub-Saharan African Countries

Cyclical Behavior of Fiscal Policy among Sub-Saharan African Countries »

Volume: 16

Series: Departmental Papers / Policy Papers

Author(s): Tetsuya Konuki , and Mauricio Villafuerte

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 August 2016

DOI: http://dx.doi.org/10.5089/9781513563541.087

ISBN: 9781513563541

Keywords: Fiscal analysis, Fiscal policy, Cyclical indicators, Sub-Saharan Africa, Oil exporting states, fiscal policy, sub-saharan Africa, oil exporters, financial markets,

Excessively procyclical fiscal policy can be harmful. This paper investigates to what extent the fiscal policies of sub-Saharan African countries were procyclical in recent years and the reasons for the degree of f...

Fixed Base Year vs. Chain Linking in National Accounts
			: Experience of Sub-Saharan African Countries

Fixed Base Year vs. Chain Linking in National Accounts : Experience of Sub-Saharan African Countries »

Volume/Issue: 2016/133

Series: IMF Working Papers

Author(s): Robert Dippelsman , Venkat Josyula , and Eric Métreau

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 July 2016

DOI: http://dx.doi.org/10.5089/9781475569339.001

ISBN: 9781475569339

Keywords: System of National Accounts, chain linking, volume measures, fixed base year

There are two approaches for producing volume estimates of GDP, fixed base year and annual chaining. While most advanced economies have adopted the chain-linked approach in the past twenty years, some African count...

Women's Opportunities and Challenges in Sub-Saharan African Job Markets

Women's Opportunities and Challenges in Sub-Saharan African Job Markets »

Volume/Issue: 2016/118

Series: IMF Working Papers

Author(s): Christine Dieterich , Anni Huang , and Alun Thomas

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 June 2016

DOI: http://dx.doi.org/10.5089/9781484388518.001

ISBN: 9781484388518

Keywords: Multi-sector Labor Market, Agriculture Feminization, Female Informal Employment, Household Enterprise Employment, SSA Labor Market

As labor market data is scarce in Sub-Saharan Africa (SSA), this paper uses household survey data to analyze the determinants of the gender gap in the labor market and its welfare implications for five SSA countrie...

Inequality, Gender Gaps and Economic Growth
			: Comparative Evidence for Sub-Saharan Africa

Inequality, Gender Gaps and Economic Growth : Comparative Evidence for Sub-Saharan Africa »

Volume/Issue: 2016/111

Series: IMF Working Papers

Author(s): Dalia Hakura , Mumtaz Hussain , Monique Newiak , Vimal Thakoor , and Fan Yang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 June 2016

DOI: http://dx.doi.org/10.5089/9781484382349.001

ISBN: 9781484382349

Keywords: Income inequality, gender inequality, economic growth, and sub-Saharan Africa

A growing body of empirical evidence suggests that inequality-income or gender related-can impede economic growth. Using dynamic panel regressions and new time series data, this paper finds that both income and gen...

West African Economic and Monetary Union (WAEMU)
			: Selected Issues

West African Economic and Monetary Union (WAEMU) : Selected Issues »

Volume/Issue: 2016/98

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 April 2016

DOI: http://dx.doi.org/10.5089/9781475550009.002

ISBN: 9781475550009

Keywords: investment, public investment, public, infrastructure, per

This paper presents stylized facts on the quantitative and qualitative infrastructure gap in the West African Economic and Monetary Union (WAEMU), estimates the efficiency of public investment, and recommends how t...

Ghana
			: Second Review Under the Extended Credit Facility Arrangement and Request for Waiver for Nonobservance of Performance Criterion-Press Release; Staff Report; and Statement by the Executive Director for Ghana

Ghana : Second Review Under the Extended Credit Facility Arrangement and Request for Waiver for Nonobservance of Performance Criterion-Press Release; Staff Report; and Statement by the Executive Director for Ghana »

Volume/Issue: 2016/16

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 January 2016

DOI: http://dx.doi.org/10.5089/9781513560564.002

ISBN: 9781513560564

Keywords: monetary policy, exchange, inflation, monetary fund, debt

This paper discusses Ghana's Second Review Under the Extended Credit Facility Arrangement and Request for Waiver for Nonobservance of Performance Criterion (PC). Program implementation has been broadly satisfactory...

International Sovereign Bonds by Emerging Markets and Developing Economies
			: Drivers of Issuance and Spreads

International Sovereign Bonds by Emerging Markets and Developing Economies : Drivers of Issuance and Spreads »

Volume/Issue: 2015/275

Series: IMF Working Papers

Author(s): Andrea Presbitero , Dhaneshwar Ghura , Olumuyiwa Adedeji , and Lamin Njie

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 December 2015

DOI: http://dx.doi.org/10.5089/9781513581729.001

ISBN: 9781513581729

Keywords: Sovereign bond issuance, bond spreads, developing countries, bonds, sovereign bonds, bond, markets, sovereign bond, International Lending and Debt Problems, Asset Pricing

What determines the ability of low-income developing countries to issue bonds in international capital and what explains the spreads on these bonds? This paper examines these questions using a dataset that includes...

Monetary Transmission
			: Are Emerging Market and Low Income Countries Different?

Monetary Transmission : Are Emerging Market and Low Income Countries Different? »

Volume/Issue: 2015/239

Series: IMF Working Papers

Author(s): Ales Bulir , and Jan Vlcek

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 November 2015

DOI: http://dx.doi.org/10.5089/9781513554235.001

ISBN: 9781513554235

Keywords: Monetary transmission, yield curve, interest, inflation, market, Monetary Policy (Targets, Instruments, and Effects), Asset Pricing, All Countries,

We use two alternative representations of the yield curve to test the functioning of the interest rate transmission mechanism along the yield curve based on government paper in a sample of emerging market and low-i...

Regional Economic Outlook, October 2015
			: Sub-Saharan Africa

Regional Economic Outlook, October 2015 : Sub-Saharan Africa »

Series: Regional Economic Outlook

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 October 2015

Language: French

DOI: http://dx.doi.org/10.5089/9781513562490.086

ISBN: 9781513562490

Keywords: Sub-Saharan Africa; commodity exporters; oil-exporting countries; competitiveness; trade integration; income inequality; gender inequality

Growth in sub-Saharan Africa has weakened after more than a decade of solid growth, although this overall outlook masks considerable variation across the region. Some countries have been negatively affected by fall...

Regional Economic Outlook, October 2015
			: Sub-Saharan Africa

Regional Economic Outlook, October 2015 : Sub-Saharan Africa »

Series: Regional Economic Outlook

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 October 2015

DOI: http://dx.doi.org/10.5089/9781513597331.086

ISBN: 9781513597331

Keywords: Sub-Saharan Africa; commodity exporters; oil-exporting countries; competitiveness; trade integration; income inequality; gender inequality

Growth in sub-Saharan Africa has weakened after more than a decade of solid growth, although this overall outlook masks considerable variation across the region. Some countries have been negatively affected by fall...

Ghana
			: First Review Under the Extended Credit Facility Arrangement and Request for Waiver and Modifications of Performance Criteria - Press Release; Staff Report; and Statement by the Executive Director for Ghana

Ghana : First Review Under the Extended Credit Facility Arrangement and Request for Waiver and Modifications of Performance Criteria - Press Release; Staff Report; and Statement by the Executive Director for Ghana »

Volume/Issue: 2015/245

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 September 2015

DOI: http://dx.doi.org/10.5089/9781513596365.002

ISBN: 9781513596365

Keywords: Extended Credit Facility, Fiscal policy, Debt management, Fiscal reforms, Monetary policy, Economic indicators, Balance of payments statistics, Debt sustainability analysis, Staff Reports, Performance criteria modifications

This paper discusses Ghana's First Review Under the Extended Credit Facility Arrangement and Request for Waiver and Modifications of Performance Criteria (PC). Program performance has been broadly satisfactory. All...

Designing Legal Frameworks for Public Debt Management

Designing Legal Frameworks for Public Debt Management »

Volume/Issue: 2015/147

Series: IMF Working Papers

Author(s): Elsie Addo Awadzi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 July 2015

DOI: http://dx.doi.org/10.5089/9781513529561.001

ISBN: 9781513529561

Keywords: National Debt, Government loans and guarantees, Legal framework for Public Debt Management, debt, public debt, legal framework, Governmental Loans and Credits,

Sustainable public debt has gained renewed attention as countries implement fiscal consolidation measures in the aftermath of the global financial crisis. Sound public debt policies and debt management practices re...

Are African Households Heterogeneous Agents?
			: Stylized Facts on Patterns of Consumption, Employment, Income and Earnings for Macroeconomic Modelers

Are African Households Heterogeneous Agents? : Stylized Facts on Patterns of Consumption, Employment, Income and Earnings for Macroeconomic Modelers »

Volume/Issue: 2015/102

Series: IMF Working Papers

Author(s): Louise Fox

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 May 2015

DOI: http://dx.doi.org/10.5089/9781484369968.001

ISBN: 9781484369968

Keywords: Inequality, macroeconomics, household heterogeneity, Macro Models, Macroeconomic Stabalization, Labor Economics, Informal Labor Market, Mobility, income, poor

This paper reviews the evidence on how households in Sub-Saharan Africa segment along consumption, income and earning dimensions relevant for quantitative macroeconomic policy models which incorporate heterogeneity...

Regional Economic Outlook, April 2015
			: Sub-Saharan Africa

Regional Economic Outlook, April 2015 : Sub-Saharan Africa »

Series: Regional Economic Outlook

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 April 2015

Language: French

DOI: http://dx.doi.org/10.5089/9781475595840.086

ISBN: 9781475595840

The sharp decline in oil and other commodity prices have adversely impacted sub-Saharan Africa. Nevertheless, the region is projected to register another year of solid economic performance. In South Africa, however...

Ghana
			: Request for a Three-Year Arrangement Under the Extended Credit Facility

Ghana : Request for a Three-Year Arrangement Under the Extended Credit Facility »

Volume/Issue: 2015/103

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 April 2015

DOI: http://dx.doi.org/10.5089/9781484328255.002

ISBN: 9781484328255

Keywords: debt, interest, revenue, monetary fund, tax

EXECUTIVE SUMMARY Context. The emergence of large fiscal and external imbalances in recent years, which led to a slowdown in growth, is putting Ghana's medium-term prospects at risk. The Government's efforts to ach...

Remittances and Macroeconomic Volatility in African Countries

Remittances and Macroeconomic Volatility in African Countries »

Volume/Issue: 2015/49

Series: IMF Working Papers

Author(s): Ahmat Jidoud

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 March 2015

DOI: http://dx.doi.org/10.5089/9781498300940.001

ISBN: 9781498300940

Keywords: Macroeconomic Volatility, African Economies, Financial Frictions, consumption, business cycle, economies, supply, Bayesian Analysis, Model Construction and Estimation, Financial Frictions.,

This paper investigates the channels through which remittances affect macroeconomic volatility in African countries using a dynamic stochastic general equilibrium (DSGE) model augmented with financial frictions. Em...

The Sources of Business Cycles in a Low Income Country

The Sources of Business Cycles in a Low Income Country »

Volume/Issue: 2015/40

Series: IMF Working Papers

Author(s): Romain Houssa , Jolan Mohimont , and Christopher Otrok

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 February 2015

DOI: http://dx.doi.org/10.5089/9781498310147.001

ISBN: 9781498310147

Keywords: Credit Shocks, Macroeconomic Stabilization Policies, Sign Restrictions, Bayesian VAR, credit, productivity, inflation, prices, exchange, Models with Panel Data

We examine the role of global and domestic shocks in driving macroeconomic fluctuations for Ghana. We are able to study the impact of exogenous shocks including productivity, credit supply, and commodity price shoc...

On the First-Round Effects of International Food Price Shocks
			: the Role of the Asset Market Structure

On the First-Round Effects of International Food Price Shocks : the Role of the Asset Market Structure »

Volume/Issue: 2015/33

Series: IMF Working Papers

Author(s): Rafael Portillo , and Luis-Felipe Zanna

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 February 2015

DOI: http://dx.doi.org/10.5089/9781498333092.001

ISBN: 9781498333092

Keywords: Food Price Shocks, First-Round Effects, New-Keynesian Models, Asset Market Structure, food, price, market, prices, inflation, General

We develop a tractable small open-economy model to study the first-round effects of international food price shocks in developing countries. We define first-round effects as changes in headline inflation that, hold...

Revisiting the Concept of Dollarization
			: The Global Financial Crisis and Dollarization in Low-Income Countries

Revisiting the Concept of Dollarization : The Global Financial Crisis and Dollarization in Low-Income Countries »

Volume/Issue: 2015/12

Series: IMF Working Papers

Author(s): Nkunde Mwase , and Francis Kumah

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 January 2015

DOI: http://dx.doi.org/10.5089/9781484366912.001

ISBN: 9781484366912

Keywords: deposit dollarization, GMM, impulse response, flight to quality, currency, deposit, exchange rate, deposits, foreign currency, Models with Panel Data

The economic literature has examined deposit dollarization in nominal terms, typically focusing on the ratio of foreign currency deposits to broad money. However, while private agent demand for foreign currency may...

Reforma de los subsidios a la energía
			: Lecciones e implicaciones

Reforma de los subsidios a la energía : Lecciones e implicaciones »

Series: Books

Author(s): Benedict Clements , David Coady , Stefania Fabrizio , Sanjeev Gupta , Trevor Alleyne , and Carlo Sdralevich

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 November 2014

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781484380109.071

ISBN: 9781484380109

Keywords: subsidios a la energía, subsidios, energía

Los subsidios a la energía tienen consecuencias económicas de amplio alcance. A pesar de que tienen por objeto proteger a los consumidores, los subsidios agravan los desequilibrios fiscales, desplazan gastos públic...

An Application of the "Fan-Chart Approach" to Debt Sustainability in Post-HIPC Low-Income Countries

An Application of the "Fan-Chart Approach" to Debt Sustainability in Post-HIPC Low-Income Countries »

Volume/Issue: 2014/102

Series: IMF Working Papers

Author(s): Maximilien Kaffo Melou , Mariusz Sumlinski , and Chris Geiregat

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 June 2014

DOI: http://dx.doi.org/10.5089/9781498345033.001

ISBN: 9781498345033

Keywords: HIPC, MDRI, fan chart, debt sustainablity, debt relief, debt sustainability, debt accumulation, debt dynamics, Deficit, International Lending and Debt Problems

We analyse the debt dynamics in countries that benefited from the HIPC/MDRI debt relief initiatives with a view to applying a probabilistic approach to estimating future debt paths for those countries. We extend t...

Ghana
			: Staff Report for the 2014 Article IV Consultation

Ghana : Staff Report for the 2014 Article IV Consultation »

Volume/Issue: 2014/129

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 May 2014

DOI: http://dx.doi.org/10.5089/9781616355609.002

ISBN: 9781616355609

Keywords: current account, public debt, current account deficit, balance of payments

This 2014 Article IV Consultation highlights the emergence of large fiscal and external imbalances since 2012, which has created significant challenges for Ghana. A swift return to macroeconomic stability in 2013 w...

Regional Economic Outlook, April 2014: Sub-Saharan Africa
			: Fostering Inclusive Growth

Regional Economic Outlook, April 2014: Sub-Saharan Africa : Fostering Inclusive Growth »

Series: Regional Economic Outlook

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 April 2014

Language: French

DOI: http://dx.doi.org/10.5089/9781475578942.086

ISBN: 9781475578942

The five Regional Economic Outlooks published biannually by the IMF cover Asia and Pacific, Europe, the Middle East and Central Asia, Sub-Saharan Africa, and the Western Hemisphere. In each volume, recent econo...

Managing Volatile Capital Flows: Experiences and Lessons for Sub-Saharan African Frontier Markets

Managing Volatile Capital Flows: Experiences and Lessons for Sub-Saharan African Frontier Markets »

Volume: 14

Series: Departmental Papers / Policy Papers

Author(s): Cheikh Gueye , Javier Arze del Granado , Rodrigo Garcia-Verdu , Mumtaz Hussain , B. Jang , Sebastian Weber , and Juan Corrales

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 March 2014

DOI: http://dx.doi.org/10.5089/9781616358440.087

ISBN: 9781616358440

Keywords: Capital flows, Sub-Saharan Africa, Macroprudential Policy, Monetary policy, Cross country analysis

During the past three years the frontier markets of sub-Saharan Africa have received growing amounts of portfolio capital flows, with heightened interest from foreign investors. Compared with foreign direct investm...

Direct Reporting of Private Sector Cross-Border Financial Flows and Stocks in Selected African Countries

Direct Reporting of Private Sector Cross-Border Financial Flows and Stocks in Selected African Countries »

Volume: 13

Series: Technical Notes and Manuals

Author(s): Simon Quin , Kenneth Egesa , and Howard Murad

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 February 2014

DOI: http://dx.doi.org/10.5089/9781475557985.005

ISBN: 9781475557985

Keywords: Balance of payments statistics, Ghana, Gambia, The, Kenya, Mauritius, Nigeria, Mozambique, The Gambia, International Investment Position, International Capital Flows

Private cross-border financial flows and stocks have grown to account for an increasingly significant part of overall transactions and positions in many African countries. Direct reporting through enterprise survey...

Perspectives économiques régionales, Oct 13
			: Afrique subsaharienne Maintenir le rythme

Perspectives économiques régionales, Oct 13 : Afrique subsaharienne Maintenir le rythme »

Series: Regional Economic Outlook

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 31 October 2013

Language: French

DOI: http://dx.doi.org/10.5089/9781484369470.086

ISBN: 9781484369470

Keywords: frontier markets, exchange rate, capital inflows, debt, private capital, portfolio flows, balance of payments, structural reforms, exchange rate pegs, foreign exchange

The October 2013 Regional Economic Outlook: Sub-Saharan Africa provides a comprehensive report on the prospects for growth in the region, as well as the major risks to the outlook. Generally, growth is expected to...

The Federal Democratic Republic of Ethiopia
			: Selected Issues

The Federal Democratic Republic of Ethiopia : Selected Issues »

Volume/Issue: 2013/309

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 October 2013

DOI: http://dx.doi.org/10.5089/9781484335529.002

ISBN: 9781484335529

Keywords: living standards, income distribution, public sector, rule of law, regulatory quality

This Selected Issues paper reviews the extent to which growth in Ethiopia has translated into higher living standards. A key feature of the economic strategy has been an explicit commitment to poverty reduction and...

2013 Low-Income Countries Global Risks and Vulnerabilities Report

2013 Low-Income Countries Global Risks and Vulnerabilities Report »

Volume/Issue: 2013/075

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 September 2013

DOI: http://dx.doi.org/10.5089/9781498341332.007

ISBN: 9781498341332

Keywords: Concessional aid, External shocks, Fiscal consolidation, Fiscal policy, Low-income developing countries, Fiscal sector, External sector, National income, Economic analysis, Public financial management

An assessment of vulnerabilities and risks in LICs remains important both for LICs themselves and for the international community. There are currently 74 LICs, eligible for concessional financing from the Fund. Thi...

Testing the Prebisch-Singer Hypothesis since 1650
			: Evidence from Panel Techniques that Allow for Multiple Breaks

Testing the Prebisch-Singer Hypothesis since 1650 : Evidence from Panel Techniques that Allow for Multiple Breaks »

Volume/Issue: 2013/180

Series: IMF Working Papers

Author(s): Rabah Arezki , Kaddour Hadri , Prakash Loungani , and Yao Rao

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 August 2013

DOI: http://dx.doi.org/10.5089/9781484341155.001

ISBN: 9781484341155

Keywords: Primary, commodities, Unit, root tests, Multiple, Structural breaks, Volatility, commodity markets, price fluctuations, transport costs

In this paper, we re-examine two important aspects of the dynamics of relative primary commodity prices, namely the secular trend and the short run volatility. To do so, we employ 25 series, some of them starting a...

Energy Subsidy Reform in Sub-Saharan Africa
			: Experiences and Lessons

Energy Subsidy Reform in Sub-Saharan Africa : Experiences and Lessons »

Volume: 12

Series: Departmental Papers / Policy Papers

Author(s): Trevor Alleyne , and Mumtaz Hussain

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 August 2013

DOI: http://dx.doi.org/10.5089/9781484366547.087

ISBN: 9781484366547

Keywords: Cross country analysis, Electric power, Energy sector, Energy taxes, Oil prices, Fiscal reforms, Gasoline prices, Sub-Saharan Africa, Subsidies, electricity

The reform of energy subsidies is an important but challenging issue for sub-Saharan African (SSA) countries. There is a relatively large theoretical and empirical literature on this issue. While this paper relies...

Ghana
			: 2013 Article IV Consultation

Ghana : 2013 Article IV Consultation »

Volume/Issue: 2013/187

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 June 2013

DOI: http://dx.doi.org/10.5089/9781484377673.002

ISBN: 9781484377673

Keywords: current account, debt sustainability, current account deficit, debt ratio, public debt

This 2013 Article IV Consultation highlights that economic growth in Ghana continued at a robust pace of 8 percent in 2012 amid rising fiscal and external imbalances. Fiscal pressures came to the fore in a mounting...

Inclusive Growth
			: An Application of the Social Opportunity Function to Selected African Countries

Inclusive Growth : An Application of the Social Opportunity Function to Selected African Countries »

Volume/Issue: 2013/139

Series: IMF Working Papers

Author(s): Olumuyiwa Adedeji , Huancheng Du , and Maxwell Opoku-Afari

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 June 2013

DOI: http://dx.doi.org/10.5089/9781484360880.001

ISBN: 9781484360880

Keywords: social opportunity curve, equity, education, school enrollment, access to education, education system, education for all, Health and Inequality, Education and Inequality, General

The inclusiveness of growth depends on the extent of access to economic and social opportunities. This paper applies the concept of social opportunity function to ascertain the inclusiveness of growth episodes in s...

Perspectives économiques régionales, Mai 13
			: Afrique subsaharienne Créer une dynamique dans une économie mondiale à plusieurs vitesses

Perspectives économiques régionales, Mai 13 : Afrique subsaharienne Créer une dynamique dans une économie mondiale à plusieurs vitesses »

Series: Regional Economic Outlook

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 May 2013

Language: French

DOI: http://dx.doi.org/10.5089/9781484345030.086

ISBN: 9781484345030

Keywords: bond, bonds, sovereign bonds, sovereign bond, exchange rate, public debt, inflation, exchange rate pegs, debt sustainability, debt relief

Growth remained strong in the region in 2012, with regional GDP rates increasing in most countries (excluding Nigeria and South Africa). Projections point to a moderate, broad-based acceleration in growth to around...

Exchange Rate Liberalization in Selected Sub-Saharan African Countries Successes, Failures, and Lessons

Exchange Rate Liberalization in Selected Sub-Saharan African Countries Successes, Failures, and Lessons »

Volume/Issue: 2013/32

Series: IMF Working Papers

Author(s): Nils Mæhle , Haimanot Teferra , and Armine Khachatryan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 31 January 2013

DOI: http://dx.doi.org/10.5089/9781557756695.001

ISBN: 9781557756695

Keywords: reforms, growth, exchange rate, foreign exchange, exchange rate regime, real effective exchange rate, effective exchange rate, General, Open Economy Macroeconomics, Economic Growth of Open Economies

Many sub-Saharan African (SSA) countries liberalized their economies in the 1980s and early 1990s. This paper reviews the foreign exchange regime reforms in selected SSA, and their associated macroeconomic policies...

Assessing the Determinants of Interest Rate Transmission Through Conditional Impulse Response Functions

Assessing the Determinants of Interest Rate Transmission Through Conditional Impulse Response Functions »

Volume/Issue: 2013/23

Series: IMF Working Papers

Author(s): Christian Saborowski , and Sebastian Weber

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 January 2013

DOI: http://dx.doi.org/10.5089/9781475525717.001

ISBN: 9781475525717

Keywords: Interest Rate Pass-Through, Monetary Policy Transmission, inflation, banking, money market, General,

We employ a structural panel VAR model with interaction terms to identify determinants of effective transmission from central bank policy rates to retail lending rates in a large country sample. The framework allow...

Commodity Price Volatility and Inclusive Growth in Low-Income Countries

Commodity Price Volatility and Inclusive Growth in Low-Income Countries »

Series: Books

Author(s): Rabah Arezki , Catherine Pattillo , Marc Quintyn , and Min Zhu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 October 2012

DOI: http://dx.doi.org/10.5089/9781616353797.071

ISBN: 9781616353797

Keywords: hedging, fiscal policy, inflation, terms of trade, food prices

In the years following the global financial crisis, many low-income countries experienced rapid recovery and strong economic growth. However, many are now facing enormous difficulties because of rapidly rising food...

Ghana
			: Joint Staff Advisory Note of the Poverty Reduction Strategy Paper

Ghana : Joint Staff Advisory Note of the Poverty Reduction Strategy Paper »

Volume/Issue: 2012/205

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 July 2012

DOI: http://dx.doi.org/10.5089/9781475506617.002

ISBN: 9781475506617

Keywords: national accounts, public finance, decentralization, financial management, budget support

This Joint Staff Advisory Note of the Poverty Reduction Strategy Paper (PRSP) on Ghana reviews the Ghana Shared Growth and Development Agenda (GSGDA) for the period 2010-13. The GSGDA comprises three volumes: the p...

Ghana
			: Poverty Reduction Strategy Paper

Ghana : Poverty Reduction Strategy Paper »

Volume/Issue: 2012/203

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 July 2012

DOI: http://dx.doi.org/10.5089/9781475506594.002

ISBN: 9781475506594

Keywords: human settlements, food security, technology transfer, tourism industry, industrial development

Ghana has pursued several programs to accelerate the growth of the economy. In 1995, the government presented 'Ghana: Vision 2020,' aimed at making Ghana a middle-income country in 25 years. Vision 2020 focused on...

Ghana
			: Poverty Reduction Strategy Paper-Volume II

Ghana : Poverty Reduction Strategy Paper-Volume II »

Volume/Issue: 2012/204

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 July 2012

DOI: http://dx.doi.org/10.5089/9781475506600.002

ISBN: 9781475506600

Keywords: human settlements, water resources, food security, social protection, service delivery

This volume discusses the Poverty Reduction Strategy (GPRS I) and the Growth and Poverty Reduction Strategy (GPRS II) that addressed the critical poverty issues in Ghana. GPRS I is a comprehensive policy document p...

Ghana
			: Sixth and Seventh Reviews Under the Three-Year Arrangement Under the Extended Credit Facility and Requests for Waiver of Nonobservance of Performance Criteria and Extension of the Arrangement-Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Ghana.

Ghana : Sixth and Seventh Reviews Under the Three-Year Arrangement Under the Extended Credit Facility and Requests for Waiver of Nonobservance of Performance Criteria and Extension of the Arrangement-Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Ghana. »

Volume/Issue: 2012/201

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 July 2012

DOI: http://dx.doi.org/10.5089/9781475506587.002

ISBN: 9781475506587

Keywords: external debt, debt management, domestic financing, current account, government debt

The Sixth and Seventh Reviews under the three-year arrangement of the Extended Credit Facility observed that te Ghanaian economy performed well in 2011, but risks to macroeconomic stability have risen recently. Eve...

Public Investment, Growth, and Debt Sustainability
			: Putting together the Pieces

Public Investment, Growth, and Debt Sustainability : Putting together the Pieces »

Volume/Issue: 2012/144

Series: IMF Working Papers

Author(s): Andrew Berg , Rafael Portillo , Edward Buffie , Catherine Pattillo , and Luis-Felipe Zanna

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2012

DOI: http://dx.doi.org/10.5089/9781475504071.001

ISBN: 9781475504071

Keywords: Growth, public debt, private capital, commercial borrowing, International Lending and Debt Problems, Monetary Growth Models,

We develop a model to study the macroeconomic effects of public investment surges in low-income countries, making explicit: (i) the investment-growth linkages; (ii) public external and domestic debt accumulation; (...

Financial Intermediation Costs in Low-Income Countries
			: The Role of Regulatory, Institutional, and Macroeconomic Factors

Financial Intermediation Costs in Low-Income Countries : The Role of Regulatory, Institutional, and Macroeconomic Factors »

Volume/Issue: 2012/140

Series: IMF Working Papers

Author(s): Tigran Poghosyan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2012

DOI: http://dx.doi.org/10.5089/9781475503937.001

ISBN: 9781475503937

Keywords: Net Interest Margins, Low Income Countries, Emerging Economies, market concentration, banking, net interest margin, competition, bank entry

We analyze factors driving persistently higher financial intermediation costs in low-income countries (LICs) relative to emerging market (EMs) country comparators. Using the net interest margin as a proxy for finan...

Ghana
			: Fifth Review Under the Three-Year Arrangement Under the Extended Credit Facility and Request for Modification of Performance Criteria-Staff Report; Staff Supplements; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Ghana.

Ghana : Fifth Review Under the Three-Year Arrangement Under the Extended Credit Facility and Request for Modification of Performance Criteria-Staff Report; Staff Supplements; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Ghana. »

Volume/Issue: 2012/36

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 February 2012

DOI: http://dx.doi.org/10.5089/9781463941048.002

ISBN: 9781463941048

Keywords: external debt, debt service, debt management, tax revenue, domestic financing

Ghana's macroeconomic outlook is positive, and the medium-term policy stance is appropriate. On the fiscal side, the government plans to scale up infrastructure investment and further boost revenues. A revised debt...

República de Moçambique
			: Relatório do Corpo Técnico sobre a Terceira Avaliação ao Abrigo do Instrumento de Apoio à Política Económica e Pedido de Modificação de Critérios de Avaliação-Relatório do Corpo Técnico, Comunicado de Imprensa

República de Moçambique : Relatório do Corpo Técnico sobre a Terceira Avaliação ao Abrigo do Instrumento de Apoio à Política Económica e Pedido de Modificação de Critérios de Avaliação-Relatório do Corpo Técnico, Comunicado de Imprensa »

Volume/Issue: 2011/350

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 December 2011

Language: Portuguese

DOI: http://dx.doi.org/10.5089/9781463928582.002

ISBN: 9781463928582

Keywords: debt service, external debt, fiscal policy, budget law, current account, public debt, debt sustainability, budget support, debt service payments, domestic financing

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discuss...

Does Money Matter for Inflation in Ghana?

Does Money Matter for Inflation in Ghana? »

Volume/Issue: 2011/274

Series: IMF Working Papers

Author(s): Arto Kovanen

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2011

DOI: http://dx.doi.org/10.5089/9781463925291.001

ISBN: 9781463925291

Keywords: monetary policy credibility, inflation-targeting, inflation, monetary policy, real money, money stock,

Money has only limited information value for future inflation in Ghana over a typical monetary policy implementation horizon (four to eight quarters). On the other hand, currency depreciation and demand pressures (...

Monetary Policy Transmission in Ghana
			: Does the Interest Rate Channel Work?

Monetary Policy Transmission in Ghana : Does the Interest Rate Channel Work? »

Volume/Issue: 2011/275

Series: IMF Working Papers

Author(s): Arto Kovanen

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2011

DOI: http://dx.doi.org/10.5089/9781463925314.001

ISBN: 9781463925314

Keywords: monetary policy transmission, interest rates, monetary policy, central bank, inflation, money market, Money And Interest Rates,

This paper analyzes interest rate pass-through in Ghana. Time series and bank-specific data are utilized to highlight linkages between policy, wholesale market, and retail market interest rates. Our analysis shows...

On the Stability of Money Demand in Ghana
			: A Bounds Testing Approach

On the Stability of Money Demand in Ghana : A Bounds Testing Approach »

Volume/Issue: 2011/273

Series: IMF Working Papers

Author(s): Arto Kovanen , and Jihad Dagher

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2011

DOI: http://dx.doi.org/10.5089/9781463925284.001

ISBN: 9781463925284

Keywords: bounds testing, stability, monetary policy, inflation, foreign currency, Econometric Methods: - Single Equation Models,

This paper adopts the bounds testing procedure developed by Pesaran et al. (2001) to test the stability of the long-run money demand for Ghana. The results provide strong evidence for the presence of a stable, well...

What Can Low-Income Countries Expect From Adopting Inflation Targeting?

What Can Low-Income Countries Expect From Adopting Inflation Targeting? »

Volume/Issue: 2011/276

Series: IMF Working Papers

Author(s): Alexandra Born , Sarwat Jahan , and Edward Gemayel

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2011

DOI: http://dx.doi.org/10.5089/9781463925932.001

ISBN: 9781463925932

Keywords: Low-Income Countries, inflation, inflation targeting, central bank, average inflation,

Inflation targeting (IT) is a relatively new monetary policy framework for low-income countries (LICs). The limited number of LICs with an IT framework and the short time that has elapsed since the adoption of this...

Perspectives économiques Régionales
			: Afrique subsaharienne: Maintenir la croissance

Perspectives économiques Régionales : Afrique subsaharienne: Maintenir la croissance »

Series: Regional Economic Outlook

Author(s): International Monetary Fund. African Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 October 2011

Language: French

DOI: http://dx.doi.org/10.5089/9781616351267.086

ISBN: 9781616351267

Keywords: exchange rate, inflation, exchange rate regimes, exporting countries, surveys, household consumption, oil-importing countries, importing countries, fixed exchange rate regimes, floating exchange rate

This year looks set to be another encouraging one for most sub-Saharan African economies. Reflecting mainly strong demand but also elevated commodity prices, the region's economy is set to expand by more than 51/4...

Customs Administration Reform and Modernization in anglophone Africa
			: Early 1990's to Mid-2010

Customs Administration Reform and Modernization in anglophone Africa : Early 1990's to Mid-2010 »

Volume/Issue: 2011/184

Series: IMF Working Papers

Author(s): Justin Zake

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2011

DOI: http://dx.doi.org/10.5089/9781462309283.001

ISBN: 9781462309283

Keywords: Anglophone African countries, reform, modernization, customs, customs administrations, import duties, trade facilitation, Taxation and Subsidies: Other, Comparative Studies of Countries, Reform And Modernization,

Anglophone African countries have been implementing reform and modernization initiatives in their Customs administrations. This paper outlines the progression of key reform and modernization initiatives in these co...

Ghana
			: Financial System Stability Assessment Update

Ghana : Financial System Stability Assessment Update »

Volume/Issue: 2011/131

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 June 2011

DOI: http://dx.doi.org/10.5089/9781455282579.002

ISBN: 9781455282579

Keywords: banking, credit, banking system, collateral, banking sector

Since the 2003 Financial Stability Assessment Program (FSAP) update, Ghana's financial system has undergone rapid growth and structural transformation. The authorities have been implementing reforms to enhance the...

Ghana
			: 2011 Article IV Consultation and Third and Fourth Reviews Under the Arrangement Under the Extended Credit Facility, Requests for Waiver of Nonobservance of Performance Criteria and Modification of Performance Criteria, and Rephasing of Disbursements-Staff Report; Staff Supplement; Public Information Notice and Press Release on the Executive Board Discussion; and Statement by the Executive Director for Ghana.

Ghana : 2011 Article IV Consultation and Third and Fourth Reviews Under the Arrangement Under the Extended Credit Facility, Requests for Waiver of Nonobservance of Performance Criteria and Modification of Performance Criteria, and Rephasing of Disbursements-Staff Report; Staff Supplement; Public Information Notice and Press Release on the Executive Board Discussion; and Statement by the Executive Director for Ghana. »

Volume/Issue: 2011/128

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 June 2011

DOI: http://dx.doi.org/10.5089/9781455281596.002

ISBN: 9781455281596

Keywords: external debt, public debt, debt management, fiscal deficit, debt service

Ghana showed strong growth underpinned by high commodity export prices, the start of oil production, and strong non-oil activity. Executive Directors welcomed this development, and stressed that monetary policy im...

Ghana
			: Three-Year Arrangement Under the Extended Credit Facility-Request for Modification of Performance Criterion-Staff Report

Ghana : Three-Year Arrangement Under the Extended Credit Facility-Request for Modification of Performance Criterion-Staff Report »

Volume/Issue: 2011/129

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 June 2011

DOI: http://dx.doi.org/10.5089/9781455281602.002

ISBN: 9781455281602

Keywords: oil company, oil and gas

The report gives the details of the Ghanaian authorities' request for modification of the performance criterion under the Extended Credit Facility (ECF)-supported program. The proposed loan involves borrowing at no...

Ghana
			: Will it Be Gifted or Will it Be Cursed?

Ghana : Will it Be Gifted or Will it Be Cursed? »

Volume/Issue: 2011/104

Series: IMF Working Papers

Author(s): Burcu Aydin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2011

DOI: http://dx.doi.org/10.5089/9781455260393.001

ISBN: 9781455260393

Keywords: growth, resource-rich, panel data, unit root, panel unit root test, individual effects, exogenous variables, lag length, Multiple or Simultaneous Equation Models: Models with Panel Data, Economic Development: General,

Will Ghana's oil production from 2011 accelerate progress toward middle-income status, or will it retard gains in living standards through a possible "resource curse"? This paper examines the likelihood of "resourc...

Oil Spill(over)s
			: Linkages in Petroleum Product Pricing Policies in West African Countries

Oil Spill(over)s : Linkages in Petroleum Product Pricing Policies in West African Countries »

Volume/Issue: 2011/102

Series: IMF Working Papers

Author(s): Mohamed El Harrak , Antonio David , Lorraine Ocampos , and Marshall Mills

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2011

DOI: http://dx.doi.org/10.5089/9781455260379.001

ISBN: 9781455260379

Keywords: International Spillovers, petroleum products, unit root, gasoline prices, petroleum prices, petroleum product prices,

This paper addresses a number of issues regarding petroleum product pricing in Western Africaemphasizing international spillovers. We use panel unit root rests and long-run modeling based on vector error correction...

Feeling The Elephant's Weight
			: The Impact of Côte d'Ivoire's Crisis on WAEMU Trade

Feeling The Elephant's Weight : The Impact of Côte d'Ivoire's Crisis on WAEMU Trade »

Volume/Issue: 2011/80

Series: IMF Working Papers

Author(s): Philippe Egoume Bossogo , and Ankouvi Nayo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2011

DOI: http://dx.doi.org/10.5089/9781455226085.001

ISBN: 9781455226085

Keywords: integration, political instability, gravity models, WAEMU, C&;amp;#x00F4;te d&;amp;#x2019;Ivoire, trade partners, trade flows, Country and Industry Studies of Trade, Trade: Forecasting and Simulation,

This paper analyzes the impact of political instability in Côte d'Ivoire on WAEMU trade over 1990-2007, applying panel econometric techniques to a gravity model of trade within WAEMU and between WAEMU and the rest...

IMF Research Bulletin, March 2011

IMF Research Bulletin, March 2011 »

Volume/Issue: 12/1

Series: IMF Research Bulletin

Author(s): International Monetary Fund. Research Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2011

DOI: http://dx.doi.org/10.5089/9781455295661.026

ISBN: 9781455295661

Keywords: real exchange rate, capital flows, international monetary fund, macroeconomic policies, capital markets

The Q&A in this issue features seven questions on the role of precautionary savings in open economies (by Damiano Sandri); the research summaries are "The Macroeconomics of Aid (by Andrew Berg, Rafael Portillo, and...

When and Why Worry About Real Exchange Rate Appreciation? The Missing Link Between Dutch Disease and Growth

When and Why Worry About Real Exchange Rate Appreciation? The Missing Link Between Dutch Disease and Growth »

Volume/Issue: 2010/271

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2010

DOI: http://dx.doi.org/10.5089/9781455210787.001

ISBN: 9781455210787

Keywords: real exchange rate, growth, exchange rate, tradable goods, exchange rate appreciation, real exchange rate appreciation, International Factor Movements: Other, Economic Growth of Open Economies,

We review the literature on Dutch disease, and document that shocks that trigger foreign exchange inflows (such as natural resource booms, surges in foreign aid, remittances, or capital inflows) appreciate the real...

Export Tax and Pricing Power
			: Two Hypotheses on the Cocoa Market in Côte d'Ivoire

Export Tax and Pricing Power : Two Hypotheses on the Cocoa Market in Côte d'Ivoire »

Volume/Issue: 2010/269

Series: IMF Working Papers

Author(s): Alexei Kireyev

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2010

DOI: http://dx.doi.org/10.5089/9781455210763.001

ISBN: 9781455210763

Keywords: Low-income countries, imperfect competition, C&;amp;#x00F4;te d&;amp;#x2019;Ivoire, export tax, exporters, export taxes, perfect competition, world price, International Factor Movements and International Business: General, Open Economy Macroeconomics,

The paper models export taxation of a primary commodity in a large country under two hypotheses about the structure of its export market. The first is perfect competition among exporters, where there is an indefini...

The Impact of Capital and Foreign Exchange Flowson the Competitiveness of Developing Countries

The Impact of Capital and Foreign Exchange Flowson the Competitiveness of Developing Countries »

Volume/Issue: 2010/154

Series: IMF Working Papers

Author(s): Bassem Kamar , Damyana Bakardzhieva , Samy Ben Naceur , and Sami Ben Naceur

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2010

DOI: http://dx.doi.org/10.5089/9781455201372.001

ISBN: 9781455201372

Keywords: Real Exchange Rate, Competitiveness, FDI, Foreign Exchange Flows, Panel Data Econometrics, reer, exchange rate, Open Economy Macroeconomics, International Factor Movements And International Business,

Attracting capital and foreign exchange flows is crucial for developing countries. Yet, these flows could lead to real exchange rate appreciation and may thus have detrimental effects on competitiveness, jeopardizi...

Ghana
			: Combined First and Second Reviews Under the Arrangement Under the Extended Credit Facility, Request for Waiver of Nonobservance of Performance Criteria, Modification of Performance Criteria and Rephasing of Disbursements:  Staff Report; Staff Statement and Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Ghana.

Ghana : Combined First and Second Reviews Under the Arrangement Under the Extended Credit Facility, Request for Waiver of Nonobservance of Performance Criteria, Modification of Performance Criteria and Rephasing of Disbursements: Staff Report; Staff Statement and Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Ghana. »

Volume/Issue: 2010/178

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 June 2010

DOI: http://dx.doi.org/10.5089/9781455204731.002

ISBN: 9781455204731

Keywords: debt, deficit, budget, revenues, external debt

Ghana's growth of 3-4 percent in 2009 was about twice the estimated average for sub-Saharan Africa. Fiscal performance in 2009 was weaker than programmed, giving rise to substantial new domestic expenditure arrears...

Banking Efficiency and Financial Development in Sub-Saharan Africa

Banking Efficiency and Financial Development in Sub-Saharan Africa »

Volume/Issue: 2010/136

Series: IMF Working Papers

Author(s): Sandrine Kablan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2010

DOI: http://dx.doi.org/10.5089/9781455201198.001

ISBN: 9781455201198

Keywords: Cost-efficiency, Stochastic Frontier Analysis, Banking System, Financial Development, banking, foreign banks, foreign bank, financial institutions, Economywide Country Studies: Africa,

This study assesses the determinants of banking system efficiency in sub-Saharan Africa (SSA) and asks what, besides the degree of efficiency, explains the low level of financial development in the region. It uses...

Beyond Aid
			: How Much Should African Countries Pay to Borrow?

Beyond Aid : How Much Should African Countries Pay to Borrow? »

Volume/Issue: 2010/140

Series: IMF Working Papers

Author(s): Cheikh Gueye , and Amadou Sy

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2010

DOI: http://dx.doi.org/10.5089/9781455201235.001

ISBN: 9781455201235

Keywords: First-Time Issuers, Push and Pull Factors, Sovereign Bonds, Spreads, capital markets, bond, international capital markets, market bond, International Lending and Debt Problems,

Post debt relief, the number of African countries considering accessing international capital markets, often to fund large infrastructure projects, is increasing. Potential risks of capital inflows are well known b...

On the Optimal Adherence to Money Targets in a New-Keynesian Framework
			: An Application to Low-Income Countries

On the Optimal Adherence to Money Targets in a New-Keynesian Framework : An Application to Low-Income Countries »

Volume/Issue: 2010/134

Series: IMF Working Papers

Author(s): Andrew Berg , Filiz Unsal , and Rafael Portillo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2010

DOI: http://dx.doi.org/10.5089/9781455201174.001

ISBN: 9781455201174

Keywords: Incomplete Information, Money Targets, Low-Income Countries, inflation, central bank, money demand, money growth, Asymmetric and Private Information,

Many low-income countries continue to describe their monetary policy framework in terms of targets on monetary aggregates. This contrasts with most modern discussions of monetary policy, and with most practice. We...

Oil Windfalls in Ghana
			: A DSGE Approach

Oil Windfalls in Ghana : A DSGE Approach »

Volume/Issue: 2010/116

Series: IMF Working Papers

Author(s): Jihad Dagher , Jan Gottschalk , and Rafael Portillo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2010

DOI: http://dx.doi.org/10.5089/9781455200757.001

ISBN: 9781455200757

Keywords: Oil Windfalls, Real Exchange Rate, inflation, central bank, foreign currency, aggregate demand, Open Economy Macroeconomics,

We use a calibrated multi-sector DSGE model to analyze the likely impact of oil windfalls on the Ghanaian economy, under alternative fiscal and monetary policy responses. We distinguish between the short-run impact...

Petroleum Product Subsidies
			: Costly, Inequitable, and On the Rise

Petroleum Product Subsidies : Costly, Inequitable, and On the Rise »

Volume/Issue: 2010/05

Series: IMF Staff Position Notes

Author(s): John Piotrowski , David Coady , Justin Tyson , Rolando Ossowski , Robert Gillingham , and Shamsuddin Tareq

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 February 2010

DOI: http://dx.doi.org/10.5089/9781455239108.004

ISBN: 9781455239108

Keywords: Commodity price fluctuations, Oil exporting countries, Oil product prices, Oil subsidies, Price stabilization, Fiscal reforms, Governance, Taxes, Subsidies, Petroleum products

Petroleum product subsidies have again started to increase with the rebound in international prices. This note reviews recent developments in subsidy levels and argues that reforming the policy framework for settin...

A Model for Full-Fledged Inflation Targeting and Application to Ghana

A Model for Full-Fledged Inflation Targeting and Application to Ghana »

Volume/Issue: 2010/25

Series: IMF Working Papers

Author(s): Kevin Clinton , Jihad Dagher , Ondrej Kamenik , Douglas Laxton , Ali Alichi , and Marshall Mills

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2010

DOI: http://dx.doi.org/10.5089/9781451962444.001

ISBN: 9781451962444

Keywords: inflation, central bank, low inflation, Model Construction and Estimation

A model in which monetary policy pursues full-fledged inflation targeting adapts well to Ghana. Model features include: endogenous policy credibility; non-linearities in the inflation process; and a policy loss fun...

Impact of the Global Financial Crisis on Exchange Rates and Policies in Sub-Saharan Africa

Impact of the Global Financial Crisis on Exchange Rates and Policies in Sub-Saharan Africa »

Volume: 09

Series: Departmental Papers / Policy Papers

Author(s): Stella Kaendera , S. V. S. Dixit , and Nabil Ben Ltaifa

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 December 2009

DOI: http://dx.doi.org/10.5089/9781462389889.087

ISBN: 9781462389889

Keywords: Exchange rate stability, Exchange rates, exchange rate, foreign exchange, global financial crisis, foreign exchange market

This paper studies the evolution of the exchange rates of sub-Saharan African currencies in the context of the global financial crisis. In particular, it analyzes the reasons behind the differences in the magnitude...

Macro-Hedging for Commodity Exporters

Macro-Hedging for Commodity Exporters »

Volume/Issue: 2009/229

Series: IMF Working Papers

Author(s): Eduardo Borensztein , Damiano Sandri , and Olivier Jeanne

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2009

DOI: http://dx.doi.org/10.5089/9781451873764.001

ISBN: 9781451873764

Keywords: commodity exports, hedging instruments, forward contracts, open interest, commodity prices,

This paper uses a dynamic optimization model to estimate the welfare gains of hedging against commodity price risk for commodity-exporting countries. The introduction of hedging instruments such as futures and opti...

Ghana
			: 2009 Article IV Consultation and Request for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility:  Staff Report; Staff Supplement; Staff Statement; Public Information Notice and Press Release on the Executive Board Discussion; and Statement by the Executive Director for Ghana

Ghana : 2009 Article IV Consultation and Request for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility: Staff Report; Staff Supplement; Staff Statement; Public Information Notice and Press Release on the Executive Board Discussion; and Statement by the Executive Director for Ghana »

Volume/Issue: 2009/256

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 August 2009

DOI: http://dx.doi.org/10.5089/9781451815047.002

ISBN: 9781451815047

Keywords: debt, deficit, budget, revenues, interest

This 2009 Article IV Consultation highlights that Ghana's overall financial system remains stable. The regulatory and supervisory framework is strong, backed by a modern payment and settlement infrastructure. Finan...

Ghana
			: Poverty Reduction Strategy Paper:  2006 Annual Progress Report

Ghana : Poverty Reduction Strategy Paper: 2006 Annual Progress Report »

Volume/Issue: 2009/237

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 August 2009

DOI: http://dx.doi.org/10.5089/9781451815023.002

ISBN: 9781451815023

Keywords: pregnant women, service delivery, hiv/aids, primary education, maternal mortality

This paper presents key findings of the assessment of progress made in the implementation of policies outlined in the Growth and Poverty Reduction Strategy (GPRS II, 2006-2009) for Ghana. The paper provides an asse...

Ghana
			: Poverty Reduction Strategy Paper:  Annual Progress Report:  Joint Staff Advisory Note

Ghana : Poverty Reduction Strategy Paper: Annual Progress Report: Joint Staff Advisory Note »

Volume/Issue: 2009/238

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 August 2009

DOI: http://dx.doi.org/10.5089/9781451815030.002

ISBN: 9781451815030

Keywords: poverty reduction strategy, primary education, enrollment rates, primary school

This Joint Staff Advisory Note provides IMF staff advice on key priorities for strengthening the Growth and Poverty Reduction Strategy (GPRS II) for Ghana and for ensuring its effective implementation. It highlight...

Understanding the Growth of African Financial Markets

Understanding the Growth of African Financial Markets »

Volume/Issue: 2009/182

Series: IMF Working Papers

Author(s): Mihasonirina Andrianaivo , and Charles Amo Yartey

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2009

DOI: http://dx.doi.org/10.5089/9781451873290.001

ISBN: 9781451873290

Keywords: Political Risk, stock market, stock market development, capital account liberalization, stock market capitalization, Financial Institutions and Services: General, Financial Institutions and Services: Government Policy and Regulation, Economywide Country Studies: Africa,

This paper examines empirically the determinants of financial market development in Africa with an emphasis on banking systems and stock markets. The results show that income level, creditor rights protection, fina...

Grants, Remittances, and the Equilibrium Real Exchange Rate in Sub-Saharan African Countries

Grants, Remittances, and the Equilibrium Real Exchange Rate in Sub-Saharan African Countries »

Volume/Issue: 2009/75

Series: IMF Working Papers

Author(s): Joannes Mongardini , and Brett Rayner

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2009

DOI: http://dx.doi.org/10.5089/9781451872224.001

ISBN: 9781451872224

Keywords: Equilibrium Real Exchange Rate, exchange rate, real exchange rate, exchange rates, real exchange rates,

This paper builds on the methodology developed by Chudik and Mongardini (2007) to estimate the relationship between grants and remittances and the equilibrium real exchange rate in Sub-Saharan African (SSA) countri...

Can Regional Cross-listings Accelerate Stock Market Development? Empirical Evidence from Sub-Saharan Africa

Can Regional Cross-listings Accelerate Stock Market Development? Empirical Evidence from Sub-Saharan Africa »

Volume/Issue: 2008/281

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2008

DOI: http://dx.doi.org/10.5089/9781451871395.001

ISBN: 9781451871395

Keywords: regional approach, events study, stock market, stock market development, stock exchanges, stock exchange,

This study analyzes the impact of regional cross-listing of stocks on the depth of the stock markets in sub-Saharan Africa (SSA). It analyzes data from 1990 to 2007 for a panel of 13 stock markets in SSA countries,...

Ghana
			: 2008 Article IV Consultation:  Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Ghana

Ghana : 2008 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Ghana »

Volume/Issue: 2008/344

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 October 2008

DOI: http://dx.doi.org/10.5089/9781451815016.002

ISBN: 9781451815016

Keywords: debt, deficit, external debt, debt sustainability, interest

This 2008 Article IV Consultation highlights that Ghana's growth has remained strong, fuelled by both the private and public sectors. The Ghanaian economy maintained strong growth of about 61/2 percent in 2007 and...

Ghana
			: Selected Issues

Ghana : Selected Issues »

Volume/Issue: 2008/332

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 October 2008

DOI: http://dx.doi.org/10.5089/9781451815009.002

ISBN: 9781451815009

Keywords: inflation, monetary policy, inflation rate, exchange rate, real interest rate

This Selected Issues paper on Ghana shows that as a small, open low-income economy, the country faces several major challenges in its conduct of disinflation policy. Ghana has historically experienced volatile and...

FMI Bulletin Vol.37, No.8 Août 2008

FMI Bulletin Vol.37, No.8 Août 2008 »

Volume/Issue: 37/8

Series: IMF Survey

Author(s): International Monetary Fund. External Relations Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 August 2008

Language: French

DOI: http://dx.doi.org/10.5089/9781451976168.023

ISBN: 9781451976168

Keywords: inflation, rising inflation, monetary fund, inflationary pressures, monetary policy, inflationary pressure, increase in inflation, inflation concerns, inflation forecasts

Inflation, La crise de subprimes, Assistance technique, Ghana, Lutte contre le blanchiment des capitaux, Les dépenses sociales, États-Unis, La marasme immobilier, Japon, Lipsky, Swaziland, Investissements directs é...

FMI Bulletin Vol.37, No.6 Juin 2008

FMI Bulletin Vol.37, No.6 Juin 2008 »

Volume/Issue: 37/6

Series: IMF Survey

Author(s): International Monetary Fund. External Relations Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 June 2008

Language: French

DOI: http://dx.doi.org/10.5089/9781451976083.023

ISBN: 9781451976083

Keywords: food prices, food security, food shortage, food production, food crisis, global food, food imports, school feeding programs, world food program, hunger

Le FMI aide les pays à faire face à la crise alimentaire; Risques d'inflation; Mark Plant, FMI et crise alimentaire; Perspectives du Moyen-Orient; Résistance des pays émergents; Le retour de la Côte d'Ivoire; Réfor...

Evaluación de la OEI sobre la condicionalidad estructural de los programas respaldados por el FMI

Evaluación de la OEI sobre la condicionalidad estructural de los programas respaldados por el FMI »

Series: Independent Evaluation Office Reports

Author(s): International Monetary Fund. Independent Evaluation Office

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 May 2008

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781589067349.017

ISBN: 9781589067349

La Oficina de Evaluación Independiente (OEI) fue creada por el Directorio Ejecutivo del FMI en 2001. Proporciona evaluaciones objetivas e independientes sobre asuntos relacionados con el FMI. La OEI opera con indep...

Évaluation de la conditionnalité structurelle des programmes appuyés par le FMI

Évaluation de la conditionnalité structurelle des programmes appuyés par le FMI »

Series: Independent Evaluation Office Reports

Author(s): International Monetary Fund. Independent Evaluation Office

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 May 2008

Language: French

DOI: http://dx.doi.org/10.5089/9781589067332.017

ISBN: 9781589067332

Keywords: conditionality, structural conditionality, privatization, depth case studies, country ownership, implementation capacity, reform agenda, structural adjustment, reform program, financial sector reform

The Independent Evaluation Office (IEO) was established by the IMF's Executive Board in 2001. It provides objective and independent evaluation of issues related to the IMF. The IEO operates independently of IMF man...

Accounting Challenges for Semi-Autonomous Revenue Agencies in Developing Countries

Accounting Challenges for Semi-Autonomous Revenue Agencies in Developing Countries »

Volume/Issue: 2008/116

Series: IMF Working Papers

Author(s): Seth Terkper

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2008

DOI: http://dx.doi.org/10.5089/9781451869767.001

ISBN: 9781451869767

Keywords: accrual accounting, tax offices, tax agencies, cash accounting

The paper discusses the improvements which a semi-autonomous revenue agency (SARA) must make to its records to meet fiscal and financial accounting obligations. SARAs are legal entities, such as a service or a depa...

Structural Conditionality in IMF-Supported Programs

Structural Conditionality in IMF-Supported Programs »

Series: Independent Evaluation Office Reports

Author(s): International Monetary Fund. Independent Evaluation Office

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 April 2008

DOI: http://dx.doi.org/10.5089/9781589067028.017

ISBN: 9781589067028

Keywords: conditionality, structural conditionality, privatization, depth case studies, country ownership

This evaluation examines factors influencing the effectiveness of the IMF structural conditionality in bringing about structural reform. It assesses the impact of the streamlining initiative launched in 2000 and of...