Download or read book Impact of the Global Financial Crisis on Exchange Rates and Policies in Sub Saharan Africa written by Stella Kaendera and published by International Monetary Fund. This book was released on 2009-12-15 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the evolution of the exchange rates of sub-Saharan African currencies in the context of the global financial crisis. In particular, it analyzes the reasons behind the differences in the magnitude and volatility of the exchange rates among countries. To this end, it takes a sample of seven countries, four members of the East African Community (EAC) (Kenya, Rwanda, Tanzania, and Uganda), and three others, which experienced large exchange rate losses at the onset of the crisis: Ghana, Nigeria, and Zambia. First, it analyzes the movements of the exchange rates with respect to the U.S. dollar and two other major currencies. Second, it tries to link the magnitude of their movements to key factors, relating to the external environment and the countries’ internal policies.
Download or read book Global Economic Crisis written by Alexis Arieff and published by DIANE Publishing. This book was released on 2010-08 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sub-Saharan Africa has been strongly affected by the global recession, despite initial optimism that the global financial system would have few spillover effects on the continent. Contents of this report: (1) Recent Develop.; (2) Congressional Interest; (3) African Economies; Trends Prior to the Crisis; Develop. Challenges; (4) How the Crisis is Affecting Africa: Internat. Trade: Trade with the U.S., and with China; Capital Flows: Migrant Remittances; Foreign Aid; (5) Implications of the Crisis in Africa; Sub-Regional Variations; Fiscal and Trade Balances; Poverty Reduction; Food Security; Political Stability; (6) Internat. Efforts to Address the Impact of the Crisis on Africa; Developed Countries; Internat. Financial Inst.; World Bank; ADB; IMF; African Gov¿ts.
Download or read book Africa and the Global Financial Crisis written by Reuben Adeolu Alabi and published by LIT Verlag Münster. This book was released on 2011 with total page 458 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this volume of the African Development Perspectives Yearbook series, the Research Group on African Development Perspectives investigates the impact of the Global Financial Crisis (GFC) on economic reform processes in Africa. The analysis is structured in such a way so as to reflect the opportunities and dangers of policy reversals in the face of the GFC. The impact of the crisis on different types and forms of governance in the region is considered. The first question is therefore which macro-economic policy instruments have to be applied in order to overcome the crisis and to continue with sustainable development. The second question is how the GFC has affected Africa's external economic relations and if the path of opening up to the world markets is to be continued. The third question raised is how the crisis has affected social cohesion, impacted poverty alleviation strategies and the achievement of Millennium Development Goals (MDGs). All these questions are discussed in the various contributions which comprise general studies and country case studies. The book also looks into the role of international financial institutions during and after the crisis. (Series: African Development Perspectives Yearbook - Vol. 15)
Download or read book Global Financial Crisis written by Paolo Savona and published by Routledge. This book was released on 2016-04-22 with total page 351 pages. Available in PDF, EPUB and Kindle. Book excerpt: Out of the debate over the effectiveness of the policy responses to the 2008 global financial crisis as well as over the innovativeness of global governance comes this collection by leading academics and practitioners who explore the dynamics of economic crisis and impact. Edited by Paolo Savona, John J. Kirton, and Chiara Oldani Global Financial Crisis: Global Impact and Solutions examines the nature of the recent crisis, its consequences in major regions and countries, the innovations in the ideas, instruments and institutions that constitute national and regional policy responses, building on the G8's response at its L'Aquila Summit. Experts from Africa, North America, Asia and Europe examine the implications of those responses for international cooperation, coordination and institutional change in global economic governance, and identify ways to reform and even replace the architecture created in the mid 20th century in order to meet the global challenges of the 21st.
Download or read book Economic Crisis in Africa written by Magnus Blomström and published by Routledge. This book was released on 2002-01-22 with total page 359 pages. Available in PDF, EPUB and Kindle. Book excerpt: Highly topical with the severe famine again in Sub-Saharan Africa Authors have many previous publications and a lot of experience in this area Book is drawn from an international conference on the responses to crises in Africa, at Stockholm School of Economics, supported by the Swedish International Development Authority
Download or read book Monetary Policy in Sub Saharan Africa written by Andrew Berg and published by Oxford University Press. This book was released on 2018-03-16 with total page 524 pages. Available in PDF, EPUB and Kindle. Book excerpt: Low-income countries in sub-Saharan Africa present unique monetary policy challenges, from the high share of volatile food in consumption to underdeveloped financial markets; however most academic and policy work on monetary policy is aimed at much richer countries. Can economic models and methods invented for rich countries even be adapted and applied here? How does and should monetary policy work in sub-Saharan African? Monetary Policy in Sub-Saharan Africa answers these questions and provides practical tools and policy guidance to respond to the complex challenges of this region. Most countries in sub-Saharan Africa have made great progress in stabilizing inflation over the past two decades. As they have achieved a degree of basic macroeconomic stability, policymakers are looking to avoid policy misalignments and respond appropriately to shocks in order to achieve stability and growth. Officially, they often have adopted "money targeting" frameworks, a regime that has long disappeared from almost all advanced and even emerging-market discussions. In practice, though, they are in many cases finding current regimes lacking, with opaque and sometimes inconsistent objectives, inadequate transmission of policy to the economy, and difficulties in responding to supply shocks. Monetary Policy in Sub-Saharan Africa takes a new approach by applying dynamic general equilibrium models suitably adapted to reflect key features of low-income countries for the analysis of monetary policy in sub-Saharan African countries. Using a progressive approach derived from the International Monetary Fund's extensive practice and research, Monetary Policy in Sub-Saharan Africa seeks to address what we know about the empirics of monetary transmission in low-income countries, how monetary policy can work in countries characterized by underdeveloped financial markets and opaque policy regimes, and how we can use empirical and theoretical methods largely derived in advanced countries to answer these questions. It then uses these key topics to guide policymakers as they attempt to adjust food price, terms of trade, aid shocks, and the effects of the global financial crisis.
Download or read book De Jure Versus de Facto Exchange Rate Regimes in Sub Saharan Africa written by International Monetary Fund and published by . This book was released on 2011-08-01 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Stabilization and Structural Adjustment written by Finn Tarp and published by Routledge. This book was released on 2002-09-11 with total page 233 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book reveals and examines the relevance of the macroeconomic theory and models behind recommendations for stabilization and structual adjustment. Alternaive analytical approaches are discusses. This is done on the basis of an up-to-date review of developments in sub-saharan Africa during the 1980's and within a common analytical framework.
Download or read book Black Markets for Foreign Exchange Real Exchange Rates and Inflation written by Brian Pinto and published by World Bank Publications. This book was released on 1988 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inflation could rise permanently and substantially as a result of unifying official and black market exchange rates, even if real government spending remains constant.
Download or read book COVID 19 and the Response of Central Banks written by Salewa Olawoye and published by Edward Elgar Publishing. This book was released on 2023-01-20 with total page 175 pages. Available in PDF, EPUB and Kindle. Book excerpt: COVID-19 and the Response of Central Banks analyses the reactions of central banks to the COVID-19 crisis in Sub-Saharan Africa. It focuses on how the pandemic has affected the economic performance of Sub-Saharan African countries, many of which were already struggling with growth and sustainability. The first part of the book covers countries within monetary unions such as Cameroon, Congo, Senegal, and Cote d'Ivoire. In the second half, countries with their own independent central banks, The Democratic Republic of Congo, Nigeria, Ghana, and Sierra Leone, are discussed. Chapters highlights the differences between Monetary Union membership and independent Central Banks in policymaking during health crises and explore the role of central banking in minimizing the deleterious effects.
Download or read book Global Financial Crisis written by Chiara Oldani and published by Ashgate Publishing, Ltd.. This book was released on 2013-03-28 with total page 358 pages. Available in PDF, EPUB and Kindle. Book excerpt: Out of the debate over the effectiveness of the policy responses to the 2008 global financial crisis as well as over the innovativeness of global governance comes this collection by leading academics and practitioners who explore the dynamics of economic crisis and impact. Edited by Paolo Savona, John J. Kirton, and Chiara Oldani Global Financial Crisis: Global Impact and Solutions examines the nature of the recent crisis, its consequences in major regions and countries, the innovations in the ideas, instruments and institutions that constitute national and regional policy responses, building on the G8's response at its L'Aquila Summit. Experts from Africa, North America, Asia and Europe examine the implications of those responses for international cooperation, coordination and institutional change in global economic governance, and identify ways to reform and even replace the architecture created in the mid 20th century in order to meet the global challenges of the 21st.
Download or read book Exchange Rate Pass Through in Sub Saharan African Economies and its Determinants written by Mr.Ivohasina Fizara Razafimahefa and published by International Monetary Fund. This book was released on 2012-06-01 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Global Economic Uncertainties and Exchange Rate Shocks written by Eliphas Ndou and published by Springer. This book was released on 2018-01-08 with total page 509 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the macroeconomic and regulatory impact of domestic and international shocks on the South African economy resulting from the 2009 financial crisis. It also assesses the impact of the US economy’s eventual recovery from the crisis and the prospect of higher US interest rates in future. Told in three parts, the book explores associations between economic growth, policy uncertainty and the key domestic and international transmission channels, and transmission effects, of global financial regulatory and domestic macro-economic uncertainties on subdued and volatile economic recovery, financial channels, lending rate margins, and credit growth. The book concludes by extending its focus to the role of US monetary policy, capital flows and rand/US dollar volatility on the South African economy.
Download or read book Mitigating the impacts of the financial and economic crisis in Africa written by A. B. Kamara and published by Editions L'Harmattan. This book was released on 2009-11-01 with total page 213 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global economic crisis revealed a high fragility of growth in African economies, especially among those that are heavily dependent on commodity export. The fragility and lack of depth in African financial markets has also exposed them to adverse effects of volatility of foreign capital outflows. This calls for an urgent need to design strategies to exploit the full potential of domestic resource mobilization and pooling of resources, as well as a rebalancing of exportled growth strategies.
Download or read book Macroeconomic Fluctuations in Sub Saharan Africa written by Mr.Alexander W. Hoffmaister and published by International Monetary Fund. This book was released on 1997-07-01 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: The sources of macroeconomic fluctuations in sub–Saharan African are examined by comparing the CFA franc countries with the non–CFA franc countries. External shocks, especially terms of trade shocks, appear to have a greater influence on fluctuations of output and the real exchange rate in CFA franc countries. This result does not appear to be associated with differences in the economic structure but may reflect the fixed exchange rate regime, which does not (partially) buffer these countries from external shocks. Macroeconomic fluctuations in non–CFA franc countries are similar to those in other developing countries, particularly in Latin America.
Download or read book The Global Economic Crisis Impact on Sub Saharan Africa and Global Policy Responses written by and published by . This book was released on 2009 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sub-Saharan Africa has been strongly affected by the global recession, despite initial optimism that the global financial system would have few spillover effects on the continent. The International Monetary Fund (IMF) estimated in 2009 that average economic growth in Africa would slow to 1%, from an annual average of over 6% to 1% over the previous five years, before rebounding to 4% in 2010. As a region, Africa is not thought to have undergone a recession in 2009. However, most African countries are thought to require high rates of economic growth in order to outpace population growth and make progress in alleviating poverty. The mechanisms through which the crisis has affected Africa include a contraction in global trade and a related collapse in primary commodity exports, on which many countries are dependent. Foreign investment and migrant worker remittances are also expected to decrease significantly, and some analysts predict cuts in foreign aid in the medium term if the crisis persists. Africa's most powerful economies have proven particularly vulnerable to the downturn: South Africa has experienced a recession for the first time in nearly two decades, and Nigeria and Angola have reported revenue shortfalls due to the fall in global oil prices. Several countries seen as having solid macroeconomic governance, notably Botswana, have sought international financial assistance to cope with the impact of the crisis. At the same time, a number of low-income African countries are projected to experience relatively robust growth in 2009 and 2010, leading some economists to talk of Africa's underlying economic resilience. The 111th Congress has monitored the impact of the global economic crisis worldwide. The Supplemental Appropriations Act, 2009 (P.L. 111-32), provided $255.6 million for assistance to vulnerable populations in developing countries affected by the crisis.
Download or read book Regional Economic Outlook October 2010 Sub Saharan Africa written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2010-10-25 with total page 117 pages. Available in PDF, EPUB and Kindle. Book excerpt: The October 2010 Regional Economic Outlook features: (i) an overview of economic developments and prospects in sub-Saharan Africa; (ii) an analytical assessment of how monetary policy changes are transmitted through the region's economies; and (iii) a study of why growth rates in the West African Economic and Monetary Union (WAEMU) have lagged behind other parts of sub-Saharan Africa. The overview highlights the broad-based economic recovery that is now under way in sub-Saharan Africa and projects growth of 5 percent in 2010 and 51⁄2 percent in 2011. It explores the resilience of most economies in the region to the global financial crises of 2007-09 and explains why sound economic policy implementation and a growing orientation of trade toward Emerging Asia are expected to continue to underpin growth. The second chapter provides evidence suggesting that monetary policy may have more power to influence monetary conditions than previously assumed. Main messages from the WAEMU study are the importance of strong policy environments and political stability for achieving sustained growth; and of robust fiscal frameworks for directing resources towards priority spending needs.
