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Delphine Prady
and
Mouhamadou Sy
This paper documents the additional spending that is required for sub-Saharan Africa (SSA) to achieve meaningful progress in SDGs by 2030. Benin and Rwanda are presented in detail through case studies. The main lessons are: i) average additional spending across SSA is significant, at 19 percent of GDP in 2030; ii) countries must prioritize their development objectives according to their capacity to deliver satisfactory outcomes, iii) financing strategies should articulate multiple sources given the scale of additional spending, and iv) strong national ownership of SDGs is key and should be reflected in long-term development plans and medium-term policy commitments.
International Monetary Fund. African Dept.
This Selected Issues paper on West African Economic and Monetary Union presents external stability assessment report. The current account deficit declined in 2014. Although gross international reserve coverage has increased slightly, part of the current account deficit has been financed by a decline in commercial banks’ net foreign assets. Contingent on the implementation of government’s consolidation plans, and helped by a favorable oil price outlook, the current account deficit would further gradually decline and be matched by enough financial inflows in the medium term. According to various metrics, the real exchange rate appears to be broadly aligned with fundamentals. International reserve coverage should increase to provide stronger buffers against immediate short-term risks. Structural competitiveness and investment efficiency improvements will be essential to ensure that the planned large investment programs translate into growth and export gains as well as increased private inflows into the region.
International Monetary Fund
The Poverty Reduction Strategy Paper II (PRSP-II) examines the major development challenges faced by Burundi. The paper identifies achievements in areas such as security and governance, but draws attention to the below-par performance in overall economic growth and development. The primary reasons for the lack of development have been cited in the report. The four major strategic pillars of the PRSP-II provide a road-map for achieving the goals and objectives enunciated to put Burundi on the path toward sustainable development.
International Monetary Fund
Rwanda’s Economic Development and Poverty Reduction Strategy provides a medium-term framework for achieving the country’s long-term development goals and aspirations as embodied in Rwanda Vision 2020, the seven-year Government of Rwanda programme, and the Millennium Development Goals. The strategy promotes three flagship programs, namely sustainable growth for jobs and exports, poverty reduction by promoting pro-poor components of the national growth agenda, and providing an anchor for pro-poor growth by building on low incidence of corruption and a regional comparative advantage in soft infrastructure.
International Monetary Fund
This paper reviews the Annual Progress Report for Rwanda’s Poverty Reduction Strategy Paper (PRSP). The performance of the Rwandan economy improved in 2004. GDP growth increased from 0.9 percent to 4.2 percent. The Government of Rwanda continued the implementation of its widespread program of reform of the national public finance management system. Progress on aid coordination and harmonization was consolidated during 2004 by putting in place some new structures, such as the External Finance Unit in Ministry of Finance and Economic Planning and the Development Partners Coordination Group secretariat.
International Monetary Fund
Rwanda’s Second and Third Reviews Under the Poverty Reduction and Growth Facility, and Request for Waiver of Performance Criteria are discussed. After an extended period characterized by a strong expansion of economic activity, real GDP growth is estimated by the IMF staff to have slowed to 0.9 percent in 2003. On the structural side, performance criteria on the revision of the tax law and preparation of the financial instructions for more effective expenditure management have been met.