WorldCat Identities

International Monetary Fund African Department

Overview
Works: 1,208 works in 2,615 publications in 1 language and 72,265 library holdings
Genres: History 
Roles: Other
Classifications: HC800, 332.49676
Publication Timeline
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Most widely held works by International Monetary Fund
Exchange rate and foreign interest rate linkages for Sub-Saharan Africa floaters by Alun H Thomas( )

1 edition published in 2012 in English and held by 837 WorldCat member libraries worldwide

The paper considers the determinants of exchange rate movements among sub-Saharan countries that have flexible exchange rate regimes. The determinants are based on the law of one price and interest parity conditions. Results indicate that the exchange rates have responded significantly to changes in the US Treasury bill rate and to the EMBI spread in recent years. The effects are more important for countries with open capital accounts. On the other hand the paper does not provide any support for the interest rate parity theory because domestic interest rates have no bearing on exchange rate movements
Mali : first and second reviews under the extended credit facility arrangement, request for waiver of performance criteria, and request for modification of performance criteria: staff report: press release: and statement by the Executive Director for Mali by International Monetary Fund( )

3 editions published in 2014 in English and held by 804 WorldCat member libraries worldwide

This paper discusses Mali's First and Second Reviews Under the Extended Credit Facility Arrangement, Request for Waiver of Performance Criteria (PC), and Request for Modification of PC. Economic recovery is under way but remains fragile. The buildup of the large-scale donor support has been hampered by serious lapses in public financial management (PFM), which raised governance concerns. With remedial measures now in place to address the PFM weaknesses, the program remains on track. The authorities are requesting waivers for PC on: tax revenue and nonconcessional borrowing. The IMF staff recom
Rwanda : 2014 article IV consultation and second review under the policy support instrument: staff report: press release by International Monetary Fund( )

3 editions published in 2014 in English and held by 800 WorldCat member libraries worldwide

This 2014 Article IV Consultation and Second Review Under the Policy Support Instrument highlights that Rwanda's economic performance since the turn of the century has been remarkable. Strong policies have played a key role in maintaining real GDP growth at 7.8 percent on average since 2000, with significant poverty reduction. The economy is recovering from the disruptions induced by aid suspension through mid-2013, with growth bouncing back in the first half of 2014 and inflation well contained. Growth in 2014 is expected to be about 6 percent, rising to the longer-term growth rate of 7.5 pe
The East African Community : prospects for sustained growth by Catherine McAuliffe( )

1 edition published in 2012 in English and held by 615 WorldCat member libraries worldwide

"The East African Community (EAC) has been among the fastest growing regions in sub-Saharan Africa in the past decade or so. Nonetheless, the recent growth path will not be enough to achieve middle-income status and substantial poverty reduction by the end of the decade -- the ambition of most countries in the region. This paper builds on methodologies established in the growth literature to identify a group of countries that achieved growth accelerations and sustained growth to use as benchmarks to evaluate the prospects, and potential constraints, for EAC countries to translate their recent growth upturn into sustained high growth. We find that EAC countries compare favorably to the group of sustained growth countries -- macroeconomic and government stability, favorable business climate, and strong institutions -- but important differences remain. EAC countries have a smaller share of exports, lower degree of financial deepening, lower levels of domestic savings, higher reliance on donor aid, and limited physical infrastructure and human capital. Policy choices to address some of these shortcomings could make a difference in whether the EAC follows the path of sustained growth or follows other countries where growth upturns later fizzled out"--Abstract
Financing growth in the WAEMU through the regional securities market : past successes and current challenges by Mame Astou Diouf( )

1 edition published in 2012 in English and held by 608 WorldCat member libraries worldwide

The West African Economic and Monetary Union (WAEMU) regional securities market saw increasing activity in the last decade, but still fell short of supplying sufficient long-term financing for growth-enhancing public and private investment projects. In addition to providing an institutional background, this paper studies recent developments and the determinants of interest rates on the market--using yield curve and principal component analyses. It also identifies challenges and prospective reforms that could help the region reap the full benefits of a more dynamic securities market and assesses the potential systemic risk the market may pose for the region's banking system
Rwanda : 2012 Article IV Consultation and Fifth Review under the Policy Support Instrument and Request for Modification of Assessment Criteria?Staff Report ; Staff Supplement ; Public Information Notice and Press Release on the Executive Board Discussion ; and Statement by the Executive Director for Rwanda by International Monetary Fund( )

2 editions published in 2013 in English and held by 594 WorldCat member libraries worldwide

The article summarizes the positive economic development of Rwanda and its internal and external policies. Rwanda's economy is referred to as a success story, but it also faces certain challenges. The country is focused on maintaining macroeconomic stability, sustaining sturdy growth, and reducing poverty without foreign dependence. Fiscal and monetary policies have played key roles in economic growth. External stability is manageable, as it has significant profit in the global market. The authorities review this remarkable success of Rwanda's economy as a great achievement
A financial conditions index for South Africa by Nombulelo Gumata( )

1 edition published in 2012 in English and held by 588 WorldCat member libraries worldwide

"The main purpose of this paper is to construct a financial conditions index (FCI) for South Africa. The analysis extracts the index by applying two alternative approaches (principal component analysis and Kalman filter), which identify an unobservable common factor from a group of external and domestic financial indicators. The alternative estimated FCIs, which share a similar trajectory over time, seem to have a powerful predictive information for the near-term GDP growth (up to four quarters), and they outperform the South African Reserve Bank's (SARB) leading indicator as well as individual financial variables. Their recent dynamics suggest that following a strong recovery in late-2009 and 2010, reflecting in part domestic factors such as systematic reductions in the policy rate, the rebound in real economic activity, and a benign inflationary environment, the financial conditions have deteriorated in recent months, though not as sharply as in end-2008. Given their relatively high predictive power regarding GDP growth, a further deterioration may imply that economic activity is likely to slow in the period ahead"--Page [1]
Building resilience in Sub-Saharan Africa's fragile states by E Gelbard( )

2 editions published in 2015 in English and held by 588 WorldCat member libraries worldwide

This paper analyzes the persistence of fragility in some sub-Saharan African states and the multiple dimensions of state weakness that are simultaneously at play. This study also provides an overview of the analytics of fragility, conflict, and international engagement with fragile states before turning to an assessment of the current state of affairs and the areas in which there has been progress in building resilience. The paper also looks at the role of fiscal policies and institutions and analyzes growth accelerations and decelerations. Seven country case studies help identify more concretely some key factors at play, and the diversity of paths followed, with an emphasis on the sequencing of reforms. The paper concludes with a summary of the main findings and policy implications. --
Dollarization in Sub-Saharan Africa : experiences and lessons by Mauro Mecagni( )

2 editions published in 2015 in English and held by 580 WorldCat member libraries worldwide

Dollarization--the use of foreign currencies as a medium of exchange, store of value, or unit of account--is a notable feature of financial development under macroeconomically fragile conditions. It has emerged as a key factor explaining vulnerabilities and currency crises, which have long been observed in Latin America, parts of Asia, and Eastern Europe. Dollarization is also present, prominently, in sub-Saharan Africa (SSA) where it remains significant and persistent at over 30 percent rates for both bank loans and deposits--although it has not increased significantly since 2001. However, progress in reducing dollarization has lagged behind other regions and, in this regard, it is legitimate to ask whether this phenomenon is an important concern in SSA. This study fills a gap in the literature by analyzing these issues with specific reference to the SSA region on the basis of the evidence for the past decade
Monitoring and managing fiscal risks in the East African Community by Paolo Mauro( )

1 edition published in 2015 in English and held by 569 WorldCat member libraries worldwide

This paper takes stock of the main fiscal risks facing the EAC partner countries. These include macroeconomic shocks, and specific risks, such as the financial performance of the public enterprises, large infrastructure projects, PPPs, and pension funds. In addition, weaknesses in the institutional framework are reviewed. This analysis highlights some of the largest risks and begins to give a sense of the potential magnitudes involved
Estimating the implicit inflation target of the South African reserve bank (pdf download) by Nir Klein( )

2 editions published in 2012 in English and held by 559 WorldCat member libraries worldwide

Toward a monetary union in the East African Community : asymmetric shocks, exchange rates, and risk-sharing mechanisms by Paulo Flavio Nacif Drummond( )

1 edition published in 2015 in English and held by 557 WorldCat member libraries worldwide

This paper examines how susceptible East African Community (EAC) economies are to asymmetric shocks, assesses the value of the exchange rate as a shock absorber for these countries, and reviews adjustment mechanisms that would help ensure a successful experience under a common currency. The report draws on analysis of recent experiences and examines likely future changes in the EAC economies. An exploration of three specific macroeconomic challenges facing the East African Community economies
Structural transformation in employment and productivity : what can Africa hope for? by M. Louise Fox( )

4 editions published in 2017 in English and held by 554 WorldCat member libraries worldwide

This paper provides the most complete analysis of the structural transformation among low- and low-middle-income countries in sub-Saharan Africa to date
A REBALANCING ACT FOR CHINA AND AFRICA : the effects of China's rebalancing on Sub-Saharan Africa's trade and growth( )

3 editions published in 2017 in English and held by 551 WorldCat member libraries worldwide

How does China's new growth model affect sub-Saharan Africa? To address this question, this paper first looks at the growing ties between China and Africa; attempts to estimate more precisely the impact on growth through the trade channel; and finally draws some policy implications regarding whether this means an end of the Africa Rising narrative or merely the beginning of a new chapter
Nigeria : 2013 Article IV Consultation by International Monetary Fund( )

3 editions published in 2013 in English and held by 533 WorldCat member libraries worldwide

Exchange rate pass-through in Sub-Saharan African economies and its determinants by Ivohasina F Razafimahefa( )

2 editions published in 2012 in English and held by 505 WorldCat member libraries worldwide

This paper analyzes the exchange rate pass-through to domestic prices and its determinants in sub-Saharan African countries. It finds that the pass-through is incomplete. The pass-through is larger following a depreciation than after an appreciation of the local currency. The average elasticity is estimated at about 0.4. It is lower in countries with more flexible exchange rate regimes and in countries with a higher income. A low inflation environment, a prudent monetary policy, and a sustainable fiscal policy are associated with a lower pass-through. The degree of pass-through has declined in the SSA region since the mid-1990s following marked improvements in macroeconomic and political environments
Excess liquidity and effectiveness of monetary policy : evidence from Sub-Saharan Africa by Magnus Saxegaard( )

6 editions published in 2006 in English and held by 470 WorldCat member libraries worldwide

This paper examines the pattern of excess liquidity in sub-Saharan Africa and its consequences for the effectiveness of monetary policy. The paper argues that understanding the consequences of excess liquidity requires quantifying the extent to which commercial bank holdings of excess liquidity exceed levels required for precautionary purposes. It proposes a methodology for measuring this quantity and uses it to estimate a nonlinear structural VAR model for the CEMAC region, Nigeria and Uganda. The study suggests that excess liquidity weakens the monetary policy transmission mechanism and thus the ability of monetary authorities to influence demand conditions in the economy
Sub-Saharan Africa's integration in the global financial markets by Corinne Deléchat( )

7 editions published in 2009 in English and held by 470 WorldCat member libraries worldwide

The paper uses a unique database covering 44 countries in sub-Saharan Africa (SSA) countries between 2000 and 2007 to study the determinants of the allocation and composition of flows across countries, as well as channels through which private capital flows could affect growth. In our sample, the degree of financial market development is an important determinant of the distribution of capital flows across countries as opposed to property rights institutions. The fairly consistent positive association between net capital flows and growth for SSA countries contrasts with the more pessimistic res
Zimbabwe's export performance : the impact of the parallel market and governance factors by Sònia Muñoz( )

10 editions published in 2006 in English and held by 469 WorldCat member libraries worldwide

This paper analyzes Zimbabwe's export performance in recent years and identifies the factors that could improve export performance, from both a quantitative and qualitative perspective. Improving export performance is critical to a turnaround in Zimbabwe's economic situation. The growth rate of total exports declined dramatically in the early 2000s, following a large real appreciation of the currency and the introduction of the fast-track land reform program. An important finding of the paper is that policies that reduce (eliminate) the parallel market premium and lower ethnic tensions would be key to promoting export growth
 
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Alternative Names

controlled identityInternational Monetary Fund

African Department.

IMF. African Department.

International Monetary Fund. African Department.

International Monetary Fund African Dept.

Languages
English (66)