Category Archives: AFRICA COUNTRIES
Africa IMF Reports : Lesotho 2011
IMF Reports for Lesotho 2011
Lesotho Departmental Paper No. 11/01: In the Wake of the Global Economic Crisis: Adjusting to Lower Revenue of the Southern African Customs Union in Botswana, Lesotho, Namibia, and Swaziland. Summary: The Southern African Customs Union (SACU) is facing its biggest challenge in its 100 years of existence. The global economic crisis has significantly reduced its revenue outlook, which is having a disproportionate impact on its smaller member countries, and which calls for an appropriate policy response. This paper discusses specifically the implications for Botswana, Lesotho, Namibia, and Swaziland, and provides recommendations regarding the proper fiscal response by these countries to the decline in SACU revenue.
http://www.imf.org/external/pubs/cat/longres.cfm?sk=24512.0
Press Release: Statement by IMF Managing Director Dominique Strauss-Kahn on Death of Central Bank of Lesotho Governor and IMF Alternate Governor Moeketsi Senaoana
http://www.imf.org/external/np/sec/pr/2011/pr1185.htm
Press Release: IMF Executive Board Completes First Review Under ECF Arrangement for the Kingdom of Lesotho and Approves Disbursement of US$9 Million
http://www.imf.org/external/np/sec/pr/2011/pr11115.htm
Country’s Policy Intentions Documents — Lesotho: Letter of Intent, Memorandum of Economic and Financial Policies, and Technical Memorandum of Understanding, February 24, 2011
http://www.imf.org/External/NP/LOI/2011/LSO/022411.pdf
Country Report No. 11/88: Kingdom of Lesotho: First Review Under the Three-Year Extended Credit Facility Arrangement and Requests for Waiver of Nonobservance of Performance Criterion and Modification of Performance Criteria-Staff Report and Press Release.
http://www.imf.org/external/pubs/cat/longres.aspx?sk=24790.0
Public Information Notice: IMF Executive Board Concludes 2009 Article IV Consultation with the Kingdom of Lesotho
http://www.imf.org/external/np/sec/pn/2011/pn1175.htm
Press Release: Statement at the Conclusion of an IMF Mission to Lesotho
http://www.imf.org/external/np/sec/pr/2011/pr11254.htm
Press Release: Statement at the Conclusion of an IMF Mission to Lesotho
http://www.imf.org/external/
All information from imf.org. Reports will be added as they become available.
Suggested Books
This book is one of the first travel guides dedicated solely to Lesotho.
Set in Lesotho and South Africa.
MP3
Old 1976 archive recording.
Africa IMF Reports : Kenya 2011
IMF Reports for Kenya 2011
Press Release: IMF Executive Board Approves Three-Year, US$508.7 Million Arrangement Under Extended Credit Facility for Kenya
http://www.imf.org/external/np/sec/pr/2011/pr1122.htm
IMF Survey: IMF Lends $508.7 Million to Help Kenya Launch Key Reforms The IMF approves a $508.7 million loan to back Kenya’s economic program, as the country embarks on reforms arising from the implementation of its new constitution. The program will help Kenya deal with vulnerabilities that could derail its efforts to accelerate growth.
http://www.imf.org/external/pubs/ft/survey/so/2011/car020811a.htm
Country’s Policy Intentions Documents — Kenya: Letter of Intent, Memorandum of Economic and Financial Policies, and Technical Memorandum of Understanding, January 17, 2011
http://www.imf.org/External/NP/LOI/2011/KEN/011711.pdf
Country Report No. 11/48: Kenya: Request for a Three-Year Arrangement Under the Extended Credit Facility-Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Kenya
http://www.imf.org/external/pubs/cat/longres.aspx?sk=24636.0
Press Release: IMF and Kenya Host Conference for Sub-Saharan Africa on Improving Tax Revenue Mobilization
http://www.imf.org/external/np/sec/pr/2011/pr1193.htm
Press Release: Statement at the Conclusion of an IMF Mission to Kenya
http://www.imf.org/external/np/sec/pr/2011/pr11194.htm
Press Release: IMF Executive Board Completes First Review Under Extended Credit Facility for Kenya
http://www.imf.org/external/np/sec/pr/2011/pr11266.htm
Country Report No. 11/165: Kenya: First Review Under the Three-Year Arrangement Under the Extended Credit Facility, Request for Waivers and Modification of Performance Criteria
http://www.imf.org/external/pubs/cat/longres.aspx?sk=25020.0
Country’s Policy Intentions Documents — Kenya: Letter of Intent and Technical Memorandum of Understanding, June 14, 2011
http://www.imf.org/External/NP/LOI/2011/KEN/061411.pdf
Press Release: Statement by IMF Mission to Kenya
http://www.imf.org/external/
Press Release: IMF Executive Board Completes Second Review Under the Extended Credit Facility for Kenya and Approves Request for Augmentation of Access and US$143.67 Million Disbursement
http://www.imf.org/external/
IMF Survey: IMF Boosts Loan to Kenya to Help Cope With Regional Drought The IMF approves a $143 million loan payout to help Kenya cope with the severe drought in the Horn of Africa and higher food and fuel prices. In its regular review of the country’s economy, the IMF says Kenya is preserving the basis for strong growth.
http://www.imf.org/external/
All information collated from imf.org.
Suggested Books
Robert Bates focuses on Kenya, a country that continued to grow while others declined in Africa, and criticizes the neo-classical turn in development economics.
In this definitive new history, Charles Hornsby demonstrates how independent Kenya’s politics have been dominated by a struggle to deliver security, impartiality, efficiency and growth, but how the legacies of the past have continued to undermine their achievement, making the long-term future of Kenya far from certain.
Africa Book : Nairobi Heat by Mukoma Wa Ngugi
ABOUT NAIROBI HEAT
In Madison, Wisconsin, it’s a big deal when African peace activist Joshua Hakizimana (famous for saving hundreds of people from the Rwandan genocide) accepts a position at the university. When a young girl is found murdered on his doorstep. For local police Detective Ishmael (an African-American in an ‘extremely white’) town) it seems like the kind of crime that happens in an area where the Ku Klux Klan still holds rallies. But then he gets a mysterious phone call: ‘If you want the truth, you must go to its source. The truth is in the past. Come to Nairobi.’ It’s the beginning of a journey that will take Ishmael to a place still vibrating from the surrounding genocide, where NGO money rules and where the local cops shoot first and ask questions later. And although it’s the land of his ancestors, it becomes a disorienting and terrifying quest through the slums of Nairobi, a place where knowing the truth about history can kill you.
How to get a copy
Nairobi Heat (Melville International Crime)
About the author
Africa IMF Reports : Guinea 2011
IMF Reports for Guinea 2011
Country’s Policy Intentions Documents — Guinea: Letter of Intent, Memorandum of Economic and Financial Policies, and Technical Memorandum of Understanding, June 30, 2011
http://www.imf.org/External/NP/LOI/2011/GIN/063011.pdf
Country Report No. 11/251: Guinea – Staff-Monitored Program
http://www.imf.org/external/pubs/cat/longres.aspx?sk=25159.0
Press Release: Statement at the Conclusion of an IMF Mission to Guinea
http://www.imf.org/external/
All information collated from imf.org.
Suggested Books
Based on previously unexamined archival records and oral interviews with rank-and-file RDA members, this book reinterprets nationalist history by approaching it from the bottom up.
Frederick Cooper’s latest book on the history of decolonization and independence in Africa helps students understand the historical process from which Africa’s current position in the world has emerged.
Africa IMF Reports : Guinea Bissau 2011
IMF Reports for Guinea Bissau 2011
Press Release: IMF Concludes Staff Visit to Guinea-Bissau
http://www.imf.org/external/np/sec/pr/2011/pr1109.htm
Press Release: Statement at the Conclusion of the IMF Mission to Guinea-Bissau
http://www.imf.org/external/np/sec/pr/2011/pr1197.htm
Press Release: IMF Executive Board Completes Second Review Under the ECF Arrangement with Guinea-Bissau and Approves US$3.85 Million Disbursement
http://www.imf.org/external/np/sec/pr/2011/pr11193.htm
Country’s Policy Intentions Documents — Guinea-Bissau: Supplementary Letter of Intent, Supplementary Memorandum of Economic and Financial Policies, and Technical Memorandum of Understanding, April 29, 2011
http://www.imf.org/External/NP/LOI/2011/GNB/042911.pdf
Country Report No. 11/119: Guinea-Bissau: Second Review Under the Three-Year Arrangement Under the Extended Credit Facility and Financing Assurances Review – Staff Report; Informational Annex; Press Release on the Review
http://www.imf.org/external/pubs/cat/longres.aspx?sk=24882.0
Press Release: IMF Concludes Staff Visit to Guinea-Bissau
http://www.imf.org/external/np/sec/pr/2011/pr11226.htm
Press Release: IMF Executive Board Completes Third and Financing Assurances Review Under ECF with Guinea-Bissau and Approves US$3.77 Million Disbursement
http://www.imf.org/external/
Country’s Policy Intentions Documents — Guinea-Bissau: Letter of Intent, Memorandum of Economic and Financial Policies, and Technical Memorandum of Understanding, November 14, 2011
http://www.imf.org/External/
Country Report No. 11/355: Guinea-Bissau: Third Review Under the Three-Year Arrangement Under the Extended Credit Facility and Financing Assurances Review – Staff Report; Joint IMF/World Bank Debt Sustainability Analysis; Informational Annex; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Guinea-Bissau
http://www.imf.org/external/
Country Report No. 11/352: Guinea-Bissau: Joint Staff Advisory Note on the Second Poverty Reduction Strategy Paper
http://www.imf.org/external/
Country Report No. 11/353: Guinea-Bissau: Second Poverty Reduction Strategy Paper
http://www.imf.org/external/
All information collated from imf.org.
Suggested Book
This book provides a collection of papers on conflict, livelihoods, and poverty in Guinea-Bissau based on both the nationally representative 2002 household survey and a small scale survey with both quantitative and qualitative components implemented in 2004.
Africa IMF Reports : Ghana 2011
The following reports are collated from imf.org. They will be added to as more are published.
IMF Reports for Ghana 2011
Press Release: Statement at the Conclusion of an IMF Mission to Ghana
http://www.imf.org/external/np/sec/pr/2011/pr1159.htm
Working Paper No. 11/104: Ghana: Will it be Gifted or Will it be Cursed? Author/Editor: Aydin, Burcu Summary: Will Ghana’s oil production from 2011 accelerate progress toward middle-income status, or will it retard gains in living standards through a possible “resource curse”? This paper examines the likelihood of “resource curse” effects, drawing on a dataset of 150 low and middle income countries from 1973 to 2008 using static and dynamic panel estimation techniques. Results confirm that resource rich countries in Ghana’s income range do experience slower growth than their more diversified peers, an effect that appears to be related to weaker governance. Provided that Ghana can preserve and improve its economic governance and also strengthen fiscal management, prospects look good for converting its oil wealth into sustained strong economic growth.
http://www.imf.org/external/pubs/cat/longres.aspx?sk=24830.0
Press Release: IMF Executive Board Completes Third and Fourth Reviews Under ECF Arrangement with Ghana and Approves US$94.3 Million Disbursement
http://www.imf.org/external/np/sec/pr/2011/pr11200.htm
Public Information Notice: IMF Executive Board Concludes Article IV Consultation with Ghana
http://www.imf.org/external/np/sec/pn/2011/pn1170.htm
Country Report No. 11/128: Ghana: 2011 Article IV Consultation and Third and Fourth Reviews Under the Arrangement Under the Extended Credit Facility, Requests for Waiver of Nonobservance of Performance Criteria and Modification of Performance Criteria, and Rephasing of Disbursements-Staff Report; Staff Supplement; Public Information Notice and Press Release on the Executive Board Discussion; and Statement by the Executive Director for Ghana.
http://www.imf.org/external/pubs/cat/longres.aspx?sk=24912.0
Country Report No. 11/129: Ghana: Three-Year Arrangement Under the Extended Credit Facility-Request for Modification of Performance Criterion-Staff Report
http://www.imf.org/external/pubs/cat/longres.aspx?sk=24914.0
Country’s Policy Intentions Documents — Ghana: Letter of Intent, Memorandum of Economic and Financial Policies, and Technical Memorandum of Understanding, May 12, 2011
http://www.imf.org/External/NP/LOI/2011/GHA/051211.pdf
Country Report No. 11/131: Ghana: Financial System Stability Assessment Update
http://www.imf.org/external/pubs/cat/longres.aspx?sk=24917.0
Press Release: Statement at the Conclusion of an IMF Staff Visit to Ghana
http://www.imf.org/external/
Working Paper No. 11/273: On the Stability of Money Demand in Ghana: A Bounds Testing Approach Author/Editor: Dagher, Jihad ; Kovanen, Arto Summary: This paper adopts the bounds testing procedure developed by Pesaran et al. (2001) to test the stability of the long-run money demand for Ghana. The results provide strong evidence for the presence of a stable, well-identified long-run money demand during a period of substantial changes in the financial markets. The empirical evidence points to complex dynamics between money demand and its determinants while suggesting that deviations from the equilibrium are rather short-lived.1
http://www.imf.org/external/
Working Paper No. 11/274: Does Money Matter for Inflation in Ghana? Author/Editor: Kovanen, Arto Summary: Money has only limited information value for future inflation in Ghana over a typical monetary policy implementation horizon (four to eight quarters). On the other hand, currency depreciation and demand pressures (as measured by the output gap) are shown to be important predictors of future price changes. Inflation inertia is high and inflation expectations are largely based on backward-looking information, suggesting that inflation expectations are not well anchored and hence more is needed to strengthen the credibility of Ghana’s inflation-targeting regime.1
http://www.imf.org/external/
Working Paper No. 11/275: Monetary Policy Transmission in Ghana: Does the Interest Rate Channel Work? Author/Editor: Kovanen, Arto Summary: This paper analyzes interest rate pass-through in Ghana. Time series and bank-specific data are utilized to highlight linkages between policy, wholesale market, and retail market interest rates. Our analysis shows that responses to changes in the policy interest rate are gradual in the wholesale market. Prolonged deviation in the interbank interest rate from the prime rate illustrate the challenges the Bank of Ghana faces when targeting a short-term money market interest rate. Asymmetries in the wholesale market adjustment possibly relate to monetary policy signaling, weak policy credibility, and liquidity management. In the retail market, pass-through to deposit and lending interest rates is protracted and incomplete.1
http://www.imf.org/external/
Press Release: IMF Executive Board Completes Fifth Review Under ECF Arrangement for Ghana and Approves US$91.55 Million Disbursement
http://www.imf.org/external/
Suggested Books
As Ghana enters its second half-century there is a widespread perception of failure of the economic and political system in delivering improved living standards to the population.
Developing countries – given their extreme economic vulnerability – are likely to be better served by maintaining flexible exchange rate regimes. That is the finding of this informative and enlightening book.
Africa IMF Reports : Gambia 2011
The following reports are collated from imf.org and will be added to as they are available.
IMF Reports for The Gambia 2011
Country’s Policy Intentions Documents — Gambia, The: Letter of Intent, Memorandum of Economic and Financial Policies, and Technical Memorandum of Understanding, December 18, 2010
http://www.imf.org/External/NP/LOI/2010/gmb/121810.pdf
Country Report No. 11/15: The Gambia: Ex-Post Assessment of Longer-Term Program Engagement-an Update
http://www.imf.org/external/pubs/cat/longres.aspx?sk=24568.0
Public Information Notice: IMF Executive Board Discusses Updated Ex-Post Assessment of Longer-Term Program Engagement in The Gambia
http://www.imf.org/external/np/sec/pn/2011/pn1105.htm
Country Report No. 11/22: The Gambia: Seventh Review of the Arrangement Under the Extended Credit Facility, Request for Rephasing of the Eighth Review and Extension of the Arrangement, and Request for Waivers of Nonobservance of Performance Criteria—Staff Report; Informational Annex; Public Information Notice; Press Release on the Executive Board Discussion; and Statement by the Alternate Executive Director for The Gambia.
http://www.imf.org/external/pubs/cat/longres.aspx?sk=24584.0
Country Report No. 11/27: The Gambia: Poverty Reduction Strategy Paper—Progress Report
http://www.imf.org/external/pubs/cat/longres.aspx?sk=24592.0
Press Release: Statement by an IMF Staff Mission to The Gambia
http://www.imf.org/external/np/sec/pr/2011/pr1189.htm
Press Release: Statement by an IMF Staff Visit to The Gambia
http://www.imf.org/external/np/sec/pr/2011/pr11209.htm
Working Paper No. 11/198: De Jure versus De Facto Exchange Rate Regimes in Sub-Saharan Africa Author/Editor: Slavov, Slavi T Summary: There are 22 countries in Sub-Saharan Africa (SSA) with floating exchange rate regimes, de jure. Some target the money supply or the inflation rate; others practice “managed floating.” Statistical analysis on monthly data for the past decade reveals that in most cases these exchange rate regimes can be approximated surprisingly well by a soft peg to a basket dominated by the US dollar. The weight on the dollar appears to have fallen somewhat across the continent in the aftermath of the global financial crisis. Replicating the model with weekly data for The Gambia suggests that the focus on the dollar might be even more pronounced at higher data frequencies. While there might be strong arguments in favor of limiting exchange rate volatility in SSA countries, soft-pegging to the dollar does not appear to be the best fit for them, given the currency structure of their external trade and finance. The paper concludes by discussing some policy options for SSA countries with flexible exchange rates, in the context of an illustrative recent country case.
http://www.imf.org/external/pubs/cat/longres.aspx?sk=25170.0
Press Release: Statement by an IMF Mission to The Gambia
http://www.imf.org/external/
All information from imf.org
Suggested Books
This book teases out the general proposition that while the market is a necessary ingredient for development, it is not by itself a sufficient condition for prosperity_the state’s role, policy framework, and leadership also matter.
We see how global events have affected people’s lives over the past eight centuries in Niumi, a little-known territory located on the north bank of the Gambia River in West Africa.
Africa IMF Reports : Gabon 2011
IMF reports for Gabon 2011
Public Information Notice: IMF Executive Board Concludes 2010 Article IV Consultation with Gabon
http://www.imf.org/external/np/sec/pn/2011/pn1130.htm
Country Report No. 11/97: Gabon: 2010 Article IV Consultation-Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Gabon
http://www.imf.org/external/pubs/cat/longres.aspx?sk=24828.0
All information collated from imf.org.
Suggested Books
Gabon, Sao Tome & Principe: The Bradt Travel Guide
Historical Dictionary of Gabon (Historical Dictionaries of Africa)
DVD
National Geographic: Gabon – The Last Eden
Map
Cameroon 1:1,500,000 and Gabon 1:950,000 Travel Map
Africa IMF Reports : Ethiopia 2011
The following items are collated from imf.org and will be added to as more become available.
IMF reports for Ethiopia 2011
Press Release: Statement by an IMF Staff Mission on the 2011 Article IV Consultation with Ethiopia
http://www.imf.org/external/np/sec/pr/2011/pr11207.htm
Suggested Books
- Ethiopia, 5th (Bradt Travel Guide Ethiopia)
- Ethiopia 1:2,000,000 Travel Map
- The Political Economy of Economic Growth in Africa, 1960-2000 (Volume 1)
Africa IMF Reports : Equatorial Guinea 2011
The following items are collated from imf.org and will be added to as reports become available.
IMF Reports for Equatorial Guinea 2011
 IMF Executive Board Concludes 2011 Article IV Consultation with Equatorial Guinea
http://www.imf.org/external/np/sec/pr/2011/pr11234.htm
To view and print pdf files you need the free Adobe Acrobat Reader which is available at http://www.adobe.com/products/acrobat/readstep.html
Suggested Books
- The IMF and Aid to Sub-Saharan Africa
- Capitalism and the Transformation of Africa
 (Reports from Equatorial Guinea0
Africa IMF Reports : Democratic Republic of Congo 2011
IMF Reports for the Democratic Republic of Congo 2011
Press Release: IMF Executive Board Completes Second Review Under the ECF Arrangement with the Democratic Republic of the Congo and Approves US$77 Million Disbursement
http://www.imf.org/external/np/sec/pr/2011/pr1135.htm
Country’s Policy Intentions Documents — Congo, Democratic Republic of the: Letter of Intent, Memorandum of Economic and Financial Policies, and Technical Memorandum of Understanding, January 21, 2011
http://www.imf.org/External/NP/LOI/2011/COD/012111.pdf
Country’s Policy Intentions Documents — Congo, Republic of: Letter of Intent, and Technical Memorandum of Understanding, May 19, 2010
http://www.imf.org/External/NP/LOI/2010/cog/051910.pdf
Country Report No. 11/54: Democratic Republic of the Congo: Second Review Under the Three-Year Arrangement Under the Extended Credit Facility and Financing Assurances Review—Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for the Democratic Republic of the Congo
http://www.imf.org/external/pubs/cat/longres.aspx?sk=24661.0
Press Release: Statement at the Conclusion of a Staff Visit to the Democratic Republic of the Congo
http://www.imf.org/external/np/sec/pr/2011/pr1166.htm
Press Release: IMF Executive Board Completes Third Review Under the ECF Arrangement with the Democratic Republic of the Congo and Approves US$80 Million Disbursement
http://www.imf.org/external/np/sec/pr/2011/pr11154.htm
Country’s Policy Intentions Documents — Congo, Democratic Republic of the: Letter of Intent, Memorandum of Economic and Financial Policies, and Technical Memorandum of Understanding, April 11, 2011
http://www.imf.org/External/NP/LOI/2011/COD/041111.pdf
Country Report No. 11/190: Democratic Republic of the Congo: Third Review of the Three-Year Arrangement Under the Extended Credit Facility, Financing Assurances Review, and Request for Modification of Performance Criteria – Staff Report and Press Release on the Executive Board Discussion
http://www.imf.org/external/pubs/cat/longres.aspx?sk=25061.0
All information collated from imf.org
Suggested Books
In this deeply reported book, Jason Stearns vividly tells the story of this misunderstood conflict through the experiences of those who engineered and perpetrated it.
- The Democratic Republic of Congo: Economic Dimensions of War and Peace (International Peace Academy Occasional Paper)
- Heart Of Diamonds: A novel of scandal, love, and death in the Congo
Heart Of Diamonds is a fast-paced tale of ambition, avarice, betrayal, and love.