Front Matter

Front Matter

Martin Mühleisen, Dhaneshwar Ghura, Roger Nord, Michael Hadjimichael, and E. Ucer
Published Date:
June 1995
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© 1995 International Monetary Fund

Library of Congress Cataloging-in-Publication Data

Sub-Saharan Africa: growth, savings, and investment, 1986–93 / Michael T. Hadjimichael … [et al.].

  • p. cm.—(Occasional paper; 118)

  • “January 1995.”

  • Includes bibliographical references.

  • ISBN 1-55775-458-6: $15.00

  • 1. Savings and investment—Africa, Sub-Saharan. 2. Africa, Sub-Saharan—Economic conditions—1960- 3. Africa, Sub-Saharan—Economic policy. I. Hadjimichael, Michael T. II. Series: Occasional paper (International Monetary Fund); no. 118.

HC800.Z9S38 1995

339.4’3’0967—dc20 94-46800 CIP

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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., 1991–92 or January–June) to indicate the years or months covered, including the beginning and ending years or months;

  • / between years (e.g., 1991/92) to indicate a crop or fiscal (financial) year.

“Billion” means a thousand million.

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

The term “country,” as used in this paper, does not in all cases refer to a territorial entity that is a state as understood by international law and practice; the term also covers some territorial entities that are not states, but for which statistical data are maintained and provided internationally on a separate and independent basis.


This paper has been prepared by a team of economists in the African Department of the International Monetary Fund, headed by Michael T. Hadjimichael, and comprising Dhaneshwar Ghura, Martin Mühleisen, Roger Nord, and Murat Uçer. The authors would like to thank Anupam Basu and Pierre Dhonte for their comments and encouragement, as well as several colleagues in the African Department for their constructive comments. They would also like to thank Gertrud Windsperger for extensive research assistance, Janet Bungay for editorial assistance, and Elisa Diehl of the External Relations Department for editing and coordinating the paper for publication. Any remaining errors are solely the responsibility of the authors.

The opinions expressed in the paper are those of the authors and should not be construed as representing those of the Executive Directors of the IMF or of other members of the IMF staff.

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