Front Matter

Front Matter

Saleh Nsouli, and Justin Zulu
Published Date:
April 1985
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    Occasional Paper No. 34

    By Justin B. Zulu and Saleh M. Nsouli

    with case studies by

    Nur Calika and Lelde Schmitz

    International Monetary Fund

    Washington, D.C.

    April 1985

    © 1985 International Monetary Fund

    Production and design by the Graphics Section of the IMF

    International Standard Serial Number: ISSN 0251-6365

    Price: US$7.50

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    Address orders to:

    External Relations Department, Attention Publications International Monetary Fund, Washington, D.C. 20431


    The following symbols have been used throughout this paper:

    • … to indicate that data are not available;
    • — to indicate that the figure is zero or less than half the final digit shown, or that the item does not exist;
    • – between years or months (e.g., 1979–81 or January–June) to indicate the years or months covered, including the beginning and ending years or months;
    • / between years (e.g., 1980/81) to indicate a crop or fiscal (financial) year.

    “Billion” means a thousand million.

    Minor discrepancies between constituent figures and totals are due to rounding.

    Prefatory Note

    This study was prepared by Justin B. Zulu, former Director of the African Department of the International Monetary Fund and currently Director of the Central Banking Department, and Saleh M. Nsouli, Division Chief in the Fund’s African Department. The case studies on Somalia and Mali were prepared respectively by Nur Calika and Lelde Schmitz, both economists in the African Department.

    The original draft of this study was prepared at the request of the African Center for Monetary Studies, Dakar, Senegal, and presented at the eighth meeting of the Association of African Central Banks, which was held in Arusha, Tanzania, in August 1983.

    This paper has benefited from comments and suggestions from Fund staff members. However, opinions expressed are those of the authors and do not necessarily represent the views of the International Monetary Fund.

    The authors are grateful to a number of colleagues who contributed data and information, to Maha A. Sabi for her assistance in compiling the data base, and to the editor, Maxine Stough.

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