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Financing Africa : through the crisis and beyond
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ISBN: 0821387979 9786613292643 1283292645 0821387987 Year: 2011 Publisher: Washington DC : World Bank,

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Financing Africa takes stock of Africa's financial systems in light of recent changes in the global financial system -including the greater risk aversion of international investors, a shift in economic and financial powers towards emerging markets and the regulatory reform debate - and the increasing role of technology. Using a wider and more detailed array of data than previous publications, we observe a trend towards financial deepening, more stability and more inclusion leading up to the crisis; serious challenges, however, continue, including limited access to financial services, focus on

Aftermath of the CFA franc devaluation
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ISBN: 1557755612 9781557755612 Year: 1996 Volume: 138 Publisher: Washington (D.C.) IMF

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Excess Liquidity and Effectiveness of Monetary Policy : Evidence from Sub-Saharan Africa
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ISBN: 1451863756 1462336698 1451909098 9786613826398 1452783446 1283513943 Year: 2006 Publisher: Washington, D.C. : International Monetary Fund,

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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.


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On the Pattern of Currency Blocs in Africa
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ISBN: 146230544X 1451991401 1282110845 9786613803726 1451906005 Year: 2005 Publisher: Washington, D.C. : International Monetary Fund,

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This paper seeks to elucidate the debate over currency union in Africa. The paper examines whether empirical investigation points to the gradual emergence of currency blocs. Based on the historical data on inflation, trade, and the comovements of prices and outputs, I argue that the emergence of large-scale currency blocs in Africa will follow a gradual path and that this dynamic does not lead to the emergence of a single continental currency at this time. Rather, the pattern which emerges seems to suggest three blocs: one in West Africa, a second around South Africa, and a third in Central Africa. Although little evidence is found supporting the emergence of a single African currency at this time, the emergence of an African currency union is not necessarily precluded, since the ultimate decision to surrender a nation's monetary policy to a supranational institution is not made based solely on economic considerations. I then address the issue of a possible anchor for the union, were it to emerge and opt for an anchorage. I find- based on the trade criterion-that the euro seems to be a good choice.


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Perspectives économiques régionales, octobre 2008 : Afrique subsaharienne.
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ISBN: 1498324207 1498337457 Year: 2008 Publisher: Washington, D.C. : International Monetary Fund,

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Selon ce rapport, les perspectives se sont quelque peu dégradées pour l'Afrique subsaharienne, et les risques ont augmenté. La croissance devrait diminuer dans la région, s'établissant à 6 % en 2008 et 2009. Cette dégradation tient principalement à l'envolée mondiale des prix des denrées alimentaires et des carburants, qui pèse fortement sur la croissance des pays importateurs de pétrole, ainsi qu'aux turbulences financières mondiales, qui ont freiné la croissance mondiale et la demande d'exportations en provenance de l'Afrique. L'inflation devrait atteindre 12 % en 2008, en raison principalement du choc sur les prix des denrées alimentaires et du pétrole. À cause de la hausse des prix, en particulier des prix alimentaires, il est fort possible que la pauvreté s'aggrave en 2008. En 2009, l'inflation devrait diminuer pour s'établir à 10 %, en raison de la baisse récente des prix des produits de base. Des risques considérables pèsent sur les perspectives, car les turbulences financières mondiales pourraient s'aggraver et se prolonger, entraînant un ralentissement accru de l'activité économique mondiale, et car les prix des produits de base restent entourés d'une grande incertitude.


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The Macroeconomic Challenges of Scaling Up Aid to Africa
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ISBN: 1462395236 145274209X 1282391771 9786613820204 1451907346 Year: 2005 Publisher: Washington, D.C. : International Monetary Fund,

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This paper surveys the economic literature on the scaling-up of aid to Africa. It provides a checklist of issues that need to be considered when preparing a long term macroeconomic projection for a country involving the assumption of a significant increase in aid. Such scaling-up scenarios are most likely to be developed in the context of a country's efforts to achieve the Millennium Development Goals (MDGs) with the support of the international donor community. The paper stresses that when preparing a scaling-up scenario it is critical to have a detailed understanding of the likely use of additional aid flows.


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Private capital flows to Africa : perception and reality.
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ISBN: 9074208150 9789074208154 Year: 1999 Publisher: The Hague Fondad

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