Economic growth has remained strong and inflation low. A large trade surplus, together with strong capital inflows, has kept accumulation of official reserves high. In July, China abandoned the de facto peg of its currency to the U.S. dollar and moved to a managed floating exchange rate arrangement linked to a basket of currencies, with an initial 2 percent revaluation against the dollar.
Source: CEIC Data Co., Ltd.; and IMF staff estimates.
1 FDI = foreign direct investment
2 PPI = producer price index
3 CPI = consumer price index
Regional Economic Outlook: Sub-Saharan Africa
By the International Monetary Fund African Department
This study analyzes economic, trade, and institutional issues for 42 African countries, covering 2004 and prospects for 2005 (for data reasons, Eritrea and Liberia are excluded). Topics examined include responses to exogenous shocks, growth performance and growth-enhancing policies, and the effectiveness of regional trade arrangements. Detailed aggregate and country data (as of February 24, 2005) are provided in an appendix and a statistical appendix, and a list of relevant publications by the IMF’s African Department is included.
$42.00 2005 Paperback.
Postconflict Economics In Sub-Saharan Africa
Lessons from the Democratic Republic of the Congo
Editor: Jean A.P. Clément
The Democratic Republic of the Congo is making significant strides on both the political and economic fronts to extricate itself from one of the bloodiest wars in African history. This remarkable turnaround offers other countries and the international community valuable lessons in preventing conflict and in coping with postconflict recovery. This book also provides a summary of the most recent research on conflict, an analysis of the causes of conflicts in Africa, and an outline of their key economic characteristics.
$28.00 2005 Paperback.
Editor: Adam Bennett; By Bruno de Schaetzen, Louis Dicks-Mireaux, Felix Fischer, Thierry Kalfon, and Ron van Rooden
After more than two decades of conflict, a new opportunity emerged for the peaceful development and economic recovery of Afghanistan. Reconstructing Afghanistan, which reflects the IMF staff’s work in Afghanistan in 2002 through the first quarter of 2004, explores the country’s institutional and economic achievements during the post-Taliban years. During this period, the staff helped the Afghan authorities quickly establish a basic framework for economic management and policies, including rebuilding key institutions.
$25.00 2005 Paperback.
Helping Countries Develop
The Role of Fiscal Policy Editors: Sanjeev Gupta, Benedict Clements, and Gabriela Inchauste
Fiscal policy can foster growth and human development through a number of different channels. But how precisely do these channels work in developing countries? What kind of tax and expenditure policies should developing countries implement to help them meet the Millennium Development Goals? And how can international aid be made more effective? Drawing on both theory and country experience, this book brings together IMF research on the various ways that fiscal policy can be used to help spur economic development.
$40.00 2004 Paperback.
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