Public Spending on Health Care under IMF-Supported Programs

2019-03-26T11:19:38-04:00March 9, 2017|

By Sanjeev Gupta and Baoping Shang

Versions in Français (French)

Government policies matter when it comes to public health. And when a country’s economy is suffering a severe economic crisis, the decisions become even more critical.  Over the past few decades, protecting social programs and spending on health has been a cornerstone of the IMF’s support for countries.

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Roads to Stronger Growth in Low-Income Countries

2019-03-26T13:30:34-04:00January 12, 2017|

By Tao Zhang and Vladimir Klyuev

Versions in:  عربي (Arabic), 中文 (Chinese), Français (French), and Español (Spanish)

Low-income countries should build more infrastructure to strengthen growth. A new IMF analysis looks at ways to overcome obstacles.

The clock is now ticking on the 2030 Agenda for Sustainable Development, and while investment—critical to this agenda—has been rising in recent years among low-income countries, weak infrastructure is still hampering growth. Governments need to make significant improvements to lay foundations for flourishing economies: roads to connect people to markets, electricity to keep factories running, sanitation to stave off […]

Supporting an Upswing in Africa Through Good Economic Policies

2017-04-15T14:53:25-04:00September 9, 2009|

By Antoinette Sayeh

Ensuring that sub-Saharan Africa emerges strongly from global recession will require both a sustained recovery in the global economy and sound domestic policies. The good news is that domestic policies are already supporting economic activity.

Many countries entered the crisis in much better shape than in the past. The region’s fiscal position was on average in balance in 2008, compared with big deficits in past cycles. Debt levels were also much lower than in the early 1990s, supported of course by recent debt relief initiatives. Inflation had been brought under control across most of the […]

Sharing in the Global Upturn—Better Prospects for Africa

2017-04-15T14:53:28-04:00September 8, 2009|

By Antoinette Sayeh

The shape of the global recovery is on everybody’s mind. But how will it affect sub-Saharan Africa? A key lesson from the past is that global cycles matter for Africa.

For sure, there have been definite idiosyncrasies in sub-Saharan African cycles–as will be discussed more fully in the forthcoming October issue of our Regional Economic Outlook—but the global dimension remains paramount.

Previous global cycles—and I’m talking here about the regular fluctuations in global economic growth that bottomed out in 1975, 1982, and 1991—followed some clear patterns. Typically, the end of an unsustainably high period of global […]

Practicing Safe Borrowing in Low-income Countries

2017-04-15T14:53:40-04:00September 4, 2009|

By Hugh Bredenkamp

Low-income countries face vast development needs. One of the biggest impediments to rapid growth is a massive “infrastructure deficit.”

In sub-Saharan Africa, for example, indicators of road and rail infrastructure are only about half those in developing countries as a whole—comparisons with advanced economies, of course, would look even bleaker. Insufficient power generation capacity and telecommunications networks are also a big constraint. It is clear that large-scale investment programs, sustained over many years, will be needed to close these gaps. Both private and public sectors will have a role to play.

The snag, of course, is […]

Helping Low-income Countries Confront the Worst Economic Crisis in 60 Years

2017-04-15T14:53:57-04:00August 31, 2009|

By Hugh Bredenkamp

One of the great tragedies of the present crisis is that it nipped in the bud the longest and most broadly based economic expansion that low-income countries have seen in modern history. These countries were finally reaping the rewards of difficult reforms that go back to the 1980s and 1990s, helped by debt relief and other support. The results were plain to see. During 2000-07, low-income country growth was twice as high as in the previous decade, and inflation fell to single digits. As a result, these countries were finally starting to make inroads […]

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