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Download PDF by International Monetary Fund, Gerald K. Helleiner: Africa and the International Monetary Fund : papers

By International Monetary Fund, Gerald K. Helleiner

Edited via G.K. Helleiner, this quantity comprises the court cases of a symposium together backed by means of the organization of African imperative Banks and the IMF that used to be held in Nairobi, Kenya, in might 1985.

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Additional resources for Africa and the International Monetary Fund : papers presented at a symposium held in Nairobi, Kenya, May 13-15, 1985

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With good economic management, good world market conditions, and more patience than we can perhaps afford, African economies should be capable of producing far more output than at present and of noticeably improving the well-being of their people. Yet the stark reality of 1985 is so very far from this potential. 3 percent a year in the 1970s and growing more slowly in the mid-1980s. Moreover, Africa may be going through that part of the demographic transition in which population growth necessarily accelerates before it begins slowing down.

Saitoti It is a time of great hardship for much of the population of our continent, but also, in my view, a time of substantial promise. The problems of Africa in 1985 hardly need elaboration. The view that this is a time of substantial promise for Africa may require some explanation, since so many observers offer little else but gloomy forecasts. My guarded optimism is based on two observations. First, the natural resources of Africa and the potential of its 400 million people, which so excited the world as the continent gained independence in the 1960s, are still there in 1985.

For major debtors using basically commercial bank funding, the Fund has not merely encouraged parallel negotiations between commercial banks and these countries, leading to rescheduling and new money, but has insisted on such negotiations and on lenders releasing enough funds to ensure the success of stabilization programs.

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Africa and the International Monetary Fund : papers presented at a symposium held in Nairobi, Kenya, May 13-15, 1985 by International Monetary Fund, Gerald K. Helleiner


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