Back-to-School Blogs

By IMFBlog

September 5, 2017

Back to school in Paris, France: get caught up on our top blogs you may have missed over the summer (photo: LAURENT CHAMUSSY/SIPA/Newscom)

What a summer it’s been. To help you get a handle on all that has happened in the global economy, our editors have compiled a handy primer of our blogs published over the summer months. Continue reading “Back-to-School Blogs” »

Building Fiscal Institutions in Fragile States

By Katherine Baer, Sanjeev Gupta, Mario Pessoa

August 9, 2017

Version in Français (French)

A porter in the market in Kathmandu, Nepal: the country increased their tax revenues in recent years with the help of technical assistance (photo: Navesh Chitrakar/Newscom)

Fragile states face more obstacles to growth than most countries.  Their per-capita GDP is less than half of most other low-income countries, and their economies are more volatile.  Many are in conflict or going through a natural disaster, or just emerging from these.  Our study is based on 39 countries, and since completed, the number of fragile states has increased to 43. 

To grow, a country needs tax policies and tax administration, laws and institutions to formulate and execute a budget, and trained staff to implement fiscal policies, among other factors.  Our preliminary results show that fragile states that have received technical assistance, also have improved their fiscal performance.

Continue reading “Building Fiscal Institutions in Fragile States” »

Chart of the Week: The Potential for Growth and Africa’s Informal Economy

By IMFBlog

August 8, 2017

A street vendor sells roasted corn in Tanzania: Unregistered household enterprises comprise a significant portion of sub-Saharan Africa’s economy (photo: Ton Koene/VWPics/Newscom)

By 2035, sub-Saharan Africa will have added more working-age people to their workforce than the rest of the world’s regions combined. And this growing workforce will have to be met with jobs. In the region, up to 90 percent of jobs outside agriculture are in the informal sector. This includes household enterprises that are not formally registered, like street vendors or domestic workers. It also includes off-the-books activities by registered firms—for example, the taxi driver who offers a discount if the meter is not turned on.

Continue reading “Chart of the Week: The Potential for Growth and Africa’s Informal Economy” »

A Common Cause for Sustainable Growth and Stability in Central Africa

By Abebe Aemro Selassie

August 1, 2017

Version in Français (French),  Português (Portuguese), and Español (Spanish);

Woman with a machete in Bafut, Cameroon: Six countries in Central Africa have a strategy to turn their economies around, with help from the IMF (photo: Heiner Heine/imageBroker/Newscom)

Six countries in central Africa have been hit hard by the collapse in commodity prices. Oil prices dropped, economic growth stalled, public debt rose, and foreign exchange reserves declined. A delayed response from policymakers, and a regional conflict have worsened the situation further for people in the region.

The countries of the Central African Economic and Monetary Community are Gabon, Cameroon, Chad, the Central African Republic, the Republic of Congo, and Equatorial Guinea. They share a common currency—the CFA franc—that is pegged to the euro, and have a common central bank that holds the region’s pool of foreign exchange reserves. Continue reading “A Common Cause for Sustainable Growth and Stability in Central Africa” »

Uganda’s Recipe for Growth

By IMFBlog

July 21, 2017

Construction worker in Uganda (photo: James Akena/Reuters/Newscom)

After two decades of steady growth, Uganda’s economy has slowed, and life for Ugandans is not improving fast enough.

Drought in the Horn of Africa, regional conflict, and slow credit growth have contributed to this decline, with per capita growth falling to ½ percent from an average of 5 percent for the past 20 years. Continue reading “Uganda’s Recipe for Growth” »

Transparency Pays: Emerging Markets Share More Data

By Sangyup Choi and Stephanie Medina Cas

July 7, 2017

Versions in عربي (Arabic), 中文 (Chinese), 日本語, Français (French), (Japanese), Português (Portuguese), and Русский (Russian)

On the move in Mexico City, Mexico: emerging market economies that are transparent with their data can lower their borrowing costs (photo: Edgard Garrido/Reuters/Newscom)

If sunlight is the best disinfectant, as US Supreme Court Justice Louis Brandeis once famously said, can it also be a money maker? We have tried to quantify the financial gains from greater transparency that emerging market countries can achieve.

Continue reading “Transparency Pays: Emerging Markets Share More Data” »

Banking On the Go

By IMFBlog

June 23, 2017

Tayo Oviosu at IMF lecture (photo: Ryan Rayburn/IMF staff)

Worldwide, more than two billion people are without bank accounts, and only one in three adults in sub-Saharan Africa has access to any type of financial services. In this podcast, Tayo Oviosu, founder and CEO of Nigeria's leading mobile payment platform, Paga, reveals how his company is rapidly bringing millions of unbanked Nigerians into the banking fold. Continue reading “Banking On the Go” »

The Compact with Africa—The Contribution of the IMF

By Christine Lagarde

June 12, 2017

Versions in عربي (Arabic),  中文 (Chinese), Deutsch (German), Français (French), 日本語 (Japanese), Русский (Russian), and Español (Spanish)

IMF Managing Director Christine Lagarde on a visit to Nigeria in 2016 (photo: IMF staff/Steve Jaffe)

Some of the world’s top policymakers and investors are gathering in Berlin to discuss a new initiative that could help reshape Africa’s economic future.

Millions of citizens could see tangible economic benefits from the recently launched Group of Twenty advanced and emerging economies' initiative, known as the “Compact with Africa.” The goal is to boost private investment by harnessing the expertise and resources of governments, investors, and international organizations.

The Compact is about facilitating projects that can lift productivity and living standards. It is about creating fresh opportunities on a continent where 70 percent of the population is under 35 years of age.

Continue reading “The Compact with Africa—The Contribution of the IMF” »

Protecting Education and Health Spending in Low-Income Countries

By Christine Lagarde

June 6, 2017

Versions in عربي (Arabic), 中文 (Chinese), Français (French) 日本語 (Japanese), Русский (Russian), and Español (Spanish)

Senior class in Nairobi, Kenya. In many countries with IMF-supported programs public spending on education grew significantly faster than the economy of the country (photo: Xinhua/Sipa USA/Newscom)

IMF-supported programs are designed to help economies get back on their feet, but what about their impact on social spending?

Our latest research shows that health and education spending have typically been protected in low-income country programs. In fact, an analysis of more than 25 years of data (1988–2014) suggests that public health spending, as a share of GDP, has on average remained unchanged, while public education spending has increased by 0.32 percentage points.

Continue reading “Protecting Education and Health Spending in Low-Income Countries” »

Restarting the Growth Engine in Sub-Saharan Africa

By IMFBlog

May 19, 2017

Version in Français (French)

The IMF’s latest economic health check of sub-Saharan Africa shows that growth fell to its lowest level in 20 years.

In this podcast, the IMF African Department’s Celine Allard, who oversaw the report, says that this drop brought a halt to the 5 to 6 percent growth rate that was enjoyed in the last two decades. Some factors contributing to this slowdown are lower commodity prices, the devastation of a severe drought—exacerbating crop infestation and leading to a famine affecting some 20 million people—and political conflicts that affect trade.

Continue reading “Restarting the Growth Engine in Sub-Saharan Africa” »

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