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Adjustment Programs in Africa
			: The Recent Experience

Adjustment Programs in Africa : The Recent Experience »

Series: Occasional Papers

Author(s): Saleh Nsouli , and Justin Zulu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 April 1985

DOI: http://dx.doi.org/10.5089/9781557750563.084

ISBN: 9781557750563

Keywords: current account, balance of payments, current account deficit, debt service, domestic credit

This paper reviews recent experience of African countries in the design and implementation of adjustment programs supported by use of Fund resources....

I Introduction

I Introduction »

Source: Adjustment Programs in Africa : The Recent Experience

Series: Occasional Papers

Author(s): Saleh Nsouli , and Justin Zulu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 April 1985

ISBN: 9781557750563

Keywords: current account, balance of payments, current account deficit, debt service, domestic credit

This paper reviews recent experience of African countries in the design and implementation of adjustment programs supported by use of Fund resources. 1 The aggregate analysis cove...

II The Role of the Fund

II The Role of the Fund »

Source: Adjustment Programs in Africa : The Recent Experience

Series: Occasional Papers

Author(s): Saleh Nsouli , and Justin Zulu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 April 1985

ISBN: 9781557750563

Keywords: current account, balance of payments, current account deficit, debt service, domestic credit

In view of mounting economic and financial imbalances, a number of African countries worked closely with the Fund to design and carry out appropriate adjustment programs during 1980–81. 2...

III The Objectives of Programs

III The Objectives of Programs »

Source: Adjustment Programs in Africa : The Recent Experience

Series: Occasional Papers

Author(s): Saleh Nsouli , and Justin Zulu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 April 1985

ISBN: 9781557750563

Keywords: current account, balance of payments, current account deficit, debt service, domestic credit

The general objectives of adjustment programs supported by use of Fund resources are summarized in the Fund’s Articles of Agreement. These objectives include: To facilitate the expansio...

IV Instruments and Policy Design

IV Instruments and Policy Design »

Source: Adjustment Programs in Africa : The Recent Experience

Series: Occasional Papers

Author(s): Saleh Nsouli , and Justin Zulu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 April 1985

ISBN: 9781557750563

Keywords: current account, balance of payments, current account deficit, debt service, domestic credit

Although there is general agreement on the objectives, each program is designed differently. There is no such thing as a “typical” Fund-supported adjustment program, although many articles have been written...

V Performance Under Programs

V Performance Under Programs »

Source: Adjustment Programs in Africa : The Recent Experience

Series: Occasional Papers

Author(s): Saleh Nsouli , and Justin Zulu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 April 1985

ISBN: 9781557750563

Keywords: current account, balance of payments, current account deficit, debt service, domestic credit

Performance under programs is difficult to assess insofar as the assessment depends on the yardstick selected. Guitián (1981) discusses the problem in detail, focusing on three yardsticks: (1) the performanc...

VI Case Studies of Somalia and Mali

VI Case Studies of Somalia and Mali »

Source: Adjustment Programs in Africa : The Recent Experience

Series: Occasional Papers

Author(s): Saleh Nsouli , and Justin Zulu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 April 1985

ISBN: 9781557750563

Keywords: current account, balance of payments, current account deficit, debt service, domestic credit

While the last section examined in aggregate the performance under programs in Africa during 1980–81, this section provides case studies of two African countries, Somalia and Mali, 10...

VII Conclusion

VII Conclusion »

Source: Adjustment Programs in Africa : The Recent Experience

Series: Occasional Papers

Author(s): Saleh Nsouli , and Justin Zulu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 April 1985

ISBN: 9781557750563

Keywords: current account, balance of payments, current account deficit, debt service, domestic credit

Even though some African countries implemented adjustment programs effectively during 1980–81, generally adjustment efforts of African countries remained fairly limited. During this period, the economic cond...

IMF-Supported Programs in Low Income Countries: Economic Impact over the Short and Longer Term1

IMF-Supported Programs in Low Income Countries: Economic Impact over the Short and Longer Term1 »

Source: IMF-Supported Programs in Low Income Countries : Economic Impact over the Short and Longer Term

Volume/Issue: 2013/273

Series: IMF Working Papers

Author(s): Christian Mumssen , Yasemin Bal-Gunduz , Christian Ebeke , and Linda Kaltani

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 31 December 2013

ISBN: 9781484356203

Keywords: macroeconomic outcomes, propensity score matching, low-income countries, balance of payments, current account, current account balance, external shocks, current account balances, International Lending and Debt Problems, Globalization: Economic Development

This paper studies the short and longer-term impact of IMF engagement in Low-Income Countries (LICs) over nearly three decades. In contrast to earlier studies, we focus on a sample composed exclusively of LICs and...

Back Matter

Back Matter »

Source: Adjustment Programs in Africa : The Recent Experience

Series: Occasional Papers

Author(s): Saleh Nsouli , and Justin Zulu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 April 1985

ISBN: 9781557750563

Keywords: current account, balance of payments, current account deficit, debt service, domestic credit

This paper reviews recent experience of African countries in the design and implementation of adjustment programs supported by use of Fund resources....