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International Monetary Fund
Satisfactory implementation of the economic program supported by the Policy Support Instrument has helped Rwanda during the global economic downturn. The program focuses on maintaining a sustainable fiscal position; strengthening monetary and exchange rate policies; and supporting growth with structural reforms to diversify the export base and improve the business environment. The authorities are committed to assess the inflation to safeguard the gains made in macroeconomic stability that currently underpin the economic recovery. Executive Directors emphasized the need to maintain macroeconomic stability to achieve sustainable growth.
International Monetary Fund. African Dept.

Abstract

Rédigées par la branche Stratégie du Département Afrique du FMI et publiées deux fois l'an en anglais et en français, les « Perspectives économiques régionales : Afrique subsaharienne » analysent les résultats économiques et les perspectives à court terme des 44 pays couverts par le département. Thèmes évoqués dans les éditions précédentes : réactions aux chocs exogènes ; résultats en matière de croissance et politiques porteuses de croissance ; efficacité des arrangements commerciaux régionaux ; implications macroéconomiques de l'expansion de l'aide ; développement du secteur financier ; décentralisation budgétaire. Des données détaillées sur les pays, groupés selon qu'ils sont exportateurs ou importateurs de pétrole et selon leur sous-région, sont présentées dans un appendice et un appendice statistique, et une liste des publications pertinentes du département Afrique est également fournie. ISSN 0258-7440.

International Monetary Fund. African Dept.

Abstract

Prepared by the Policy Wing of the IMF African Department, and published twice a year in English and French, Regional Economic Outlook: Sub-Saharan Africa analyzes economic performance and short-term prospects of the 44 countries covered by the Department. Topics examined in recent volumes include responses to exogenous shocks, growth performance and growth-enhancing policies, the effectiveness of regional trade arrangements, macroeconomic implications of scaled-up aid, financial sector development, and fiscal decentralization. Detailed country data, grouped by oil-exporting and -importing countries and by subregion, are provided in an appendix and a statistical appendix, and a list of relevant publications by the African Department is included.

Mr. James M. Boughton
All financial institutions specialize, in dimensions that may include categories of assets and liabilities, types of services offered, customer demographics, and geographic coverage. The International Monetary Fund is the only international financial institution that is universal in its geographic scope, prepared to lend on request to virtually any country in the world. Why has this status come about? What are its costs and benefits? Is it an appropriate model for a world where macroeconomic imbalances, financial crises, and disparities in economic development must compete for attention and resources?
International Monetary Fund
This paper assesses Uganda’s Request for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF). The program for 2002/03–2004/05, which could be supported by a new PRGF arrangement, aims to increase real GDP growth to about 6½ percent a year on average, while holding annual inflation at about 3½ percent. Monetary and exchange rate policies will focus on maintaining stability in light of sizable sterilization operations. The authorities will rely on market-based monetary instruments and will adhere to a flexible exchange rate policy.