Last Updated: April 16, 2008

Development, Trade & Aid

Street market in Jaisalmer, India. (photo: Blaine Harrington III/Corbis)

Low-income countries are experiencing their highest growth rates in decades, but the slowing of the global economy and higher world oil prices could threaten the outlook in some countries. The IMF is also warning that higher food prices could undermine efforts to cut poverty if nothing is done to help countries deal with the price spikes.

Country News and Analysis

Ministers Resolve to Counter Slowdown, Combat Food Hikes

April 13, 2008
The world's top economic and financial leaders—who gathered in Washington April 12-13 for the IMF-World Bank Spring Meetings—backed a series of measures to support global growth, strengthen the international financial system, and combat high food prices.

Food Price Rises Threaten Efforts to Cut Poverty—Strauss-Kahn

April 10, 2008
A rise in food prices of 48 percent since end-2006 is a huge increase that may undermine gains the international community has made in reducing poverty, IMF Managing Director Dominique Strauss-Kahn warned.

Africa Seeing Rewards of Better Policies

March 20, 2008
Interview with Abdoulaye Bio-Tchané, departing Director of the IMF's African Department.

IMF to Back Liberia With Debt Relief, New Financing

March 20, 2008
In a major move to back Liberia's economic recovery after a ruinous 14-year period of civil war, the IMF has announced a series of measures to support it with debt relief and new financing.

Haiti gets US$12.2 Million program

March 4, 2008

Policy advice, technical assistance at heart of IMF support for Africa

February 29, 2008
The IMF stands ready to help its African members make sustained progress in reducing poverty, Managing Director Dominique Strauss-Kahn says at the conclusion of a week-long visit to Africa.

Tackling Burkina Faso's Cotton Crisis

February 25, 2008
Burkina Faso's cotton sector has done much to boost GDP growth, but is now experiencing difficulties. Institutional and policy reforms are needed to ensure the sector's long-term viability and role in reducing poverty.

Nigeria Needs Sustained Reforms to Build on Success

February 15, 2008
The IMF's annual economic assessment finds Nigeria's current economic situation the strongest in recent history. But challenges remain to manage its budgets and oil revenues, the financial sector, and private sector growth.

IMF Helps Ghana Learn From Others on Inflation Targets

February 14, 2008
The IMF is sharing its cross-country experience in inflation targeting with Ghana as the country adapts its monetary policy and aims to reach middle-income status by 2015.

Debt Relief Yields Results in Niger

January 25, 2008
Lower debt service, together with continued significant budgetary aid and higher domestic revenue mobilization, is having an impact on spending in education, health, and the rural sector. Budgetary allocations increased by 4 percent of GDP since 2002.

More Investors Turn to Sub-Saharan Africa

January 3, 2008
Two African countries successfully tapped international capital markets in the second half of 2007, demonstrating global investors' rising confidence in sub-Saharan Africa's economic performance and prospects.

Global Governance

December 2007
"Finance and Development", the IMF's quarterly magazine, focuses an issue on global governance.

Budget Reform Holds Promise in Mozambique

November 26, 2007
A cornerstone of Mozambique's reconstruction since the end of its civil war in 1992 has been the committed application of far-reaching, donor-funded public financial management reform, backed by the IMF.

IMF Regional Economic Outlook for Africa

October 2007
Growth in sub-Saharan Africa is expected to hit 6.7 percent in 2008.

Policy Overview

Building on Momentum: The Role of the IMF in Low-Income Countries

September 24, 2007
Speech by John Lipsky, First Deputy Managing Director

Should the IMF be involved in Low-Income Countries?

January 31, 2008
External view by Domenico Lombardy (World Economic Journal)

Debt Relief

Debt Relief Bringing Benefits to Africa

February 25, 2007

Africa's Improved Debt Outlook Sparks Investor Interest

February 25, 2007

IMF reviews progress with the HIPC Initiative and MDRI

October 4, 2007

Factsheets:

The Initiative for Heavily-Indebted Poor Countries (HIPC)

The Multilateral Debt Relief Initiative (MDRI)

Country Debt Sustainability Analyses

IMF Programs

PSI Framework Helping Africa's Leading Reformers

February 21, 2008

IMF's External Evaluation Office (IEO) reviews conditions in IMF programs

January 3, 2008

Response to CGD Report on IMF Programs and Health Spending

September 7, 2007
by Abdoulaye Bio-Tchané, Director, African Department

IMF Trims Use of Wage Bill Ceilings

September 5, 2007

Factsheets:

The Poverty Reduction and Growth Facility (PRGF)

The Exogenous Shocks Facility (ESF)

Poverty Reduction

IMF Executive Board Discusses Aid for Trade

February 13, 2008

IMF attends 1rst Meeting of MDG Africa Steering Group

September 14, 2007

Factsheet:

Poverty Reduction Strategy Papers (PRSP)

Related Links

Key Issues Page:

Technical Assistance

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Spotlight

Coping with Food Price Increases in Sub-Saharan Africa

March 20, 2008
African countries face difficult policy choices as rising inflationary pressures cause food prices to spike.

Frequently asked questions on low-income countries and high food prices

Regional Economic Outlook for Africa

April 12, 2008
Higher oil, food prices raise challenge of maintaining macroeconomic stability.

Progress Toward MDGs Off Track, Report Says

April 8, 2008
A new World Bank-IMF report warns that most countries will fall short on the Millennium Development Goals (MDGs).

Research and Publications

Can Africa Make Trade an Engine for Growth?

March 11, 2008
An IMF book analyzes the trade patterns emerging in sub-Saharan Africa and assesses their implications for policy.

High and Volatile Treasury Yields in Tanzania

March 1, 2008
IMF Working Paper

Southern Africa: Adapting to Shocks

February 21, 2008
Article on IMF Working Paper

Terms of Trade Shocks and Economic Recovery

February 1, 2008
IMF Working Paper

Where Did All the Aid Go? An Empirical Analysis of Absorption and Spending

February 1, 2008
IMF Working Paper

Food and Biofuels: The Price of Success

December 3, 2007
IMF Chief Economist Simon Johnson looks at how adoption of biofuels is driving up world food prices and how rich countries could limit the impact on low-income countries.

Book Forum with Dani Rodrik

November 29, 2007
The Harvard University professor previewed his latest book: One Economics, Many Recipes: Globalization, Institutions, and Economic Growth

Helping Postconflict Nations Rebuild

November 26, 2007
Three new books (by IMF staff and others) discuss how technical assistance by international institutions has helped postconflict countries.

Technology Widening Rich-Poor Gap

October 10, 2007
IMF Research

Fiscal Management of Scaled-Up Aid

September 1, 2007
IMF Working Paper

Stock Market Development in Sub-Saharan Africa: Critical Issues and Challenges

August 1, 2007
IMF Working Paper

The Prospects for Sustained Growth in Africa: Benchmarking the Constraints

May 2007
NBER paper by Simon Johnson, Jonathan Ostry and Arvind Subramanian finds that weak institutions may not be binding constraints on growth.