{
  "title": "The Compact with Africa—The Contribution of the IMF",
  "publication": "IMF Blog, June 12, 2017",
  "sourceUrl": "https://www.imf.org/en/blogs/articles/2017/06/12/the-compact-with-africa-the-contribution-of-the-imf",
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  "summary": "Examples of IMF engagement: - Tax policy reforms and strengthening administrative capacity to create stronger and more reliable sources of government revenue. - Revenue aspiration: countries should not aspire to less than achieving revenue gains of half a percent of GDP each year. - Intended uses of",
  "sections": [
    {
      "heading": "Purpose and context",
      "content": "- The Compact with Africa aims to boost private investment by harnessing the expertise and resources of governments, investors, and international organizations.\n- The Compact seeks to facilitate projects that lift productivity and living standards and create fresh opportunities across Africa.\n- The German G20 presidency launched the Compact as an engine for job creation and poverty reduction."
    },
    {
      "heading": "Demographics and labor market challenge",
      "content": "- 70 percent of the population is under 35 years of age.\n- Estimated jobs needed: 20 million jobs need to be created in Africa every year until 2035 just to absorb new entrants into the labor force."
    },
    {
      "heading": "IMF priorities and contributions",
      "content": "- The IMF commits to working toward a resilient macroeconomic environment and sustainable debt burdens to create conditions for more and better-paid jobs.\n- The IMF is increasing engagement with participating Compact countries, building on long-term relations.\n\nExamples of IMF engagement:\n- Tax policy reforms and strengthening administrative capacity to create stronger and more reliable sources of government revenue.\n  - Revenue aspiration: countries should not aspire to less than achieving revenue gains of half a percent of GDP each year.\n  - Intended uses of revenue gains: prevent build-up of excessive debt and generate extra resources for investment in health, education, and infrastructure.\n- Improving the efficiency of public infrastructure spending.\n  - Infrastructure investment need: $100 billion per year in investment to close Africa’s infrastructure gap.\n  - Current shortfall: less than half that amount is being undertaken.\n  - Growth impact: recent analysis shows that the regional deficit in physical infrastructure reduces growth by 2 percentage points a year.\n  - Country examples: Ghana, Côte d’Ivoire, and Togo have used IMF expertise and tools to raise public spending efficiency; Morocco, Senegal, and Tunisia to be worked with in the year of publication.\n- Supporting financial sector development.\n  - Areas: building healthy and well-supervised banking systems, macro-prudential policy, managing capital flow volatility in times of distress.\n  - Objective: greater financial stability to support more private investment and more inclusive growth.\n- Strengthening rule of law and institutions, including building defenses against money laundering and the financing of terrorism.\n  - Country examples: recent IMF engagement in Ghana, Morocco, and Tunisia on AML/CFT matters.\n- Capacity development emphasis.\n  - Capacity development accounts for about a quarter of the IMF’s overall activities.\n  - Online courses: have attracted almost 30,000 participants since 2013, with the largest share of government participants from sub-Saharan Africa.\n- Financial assistance and annual assessments.\n  - Active IMF-supported programs exist in the first five Compact countries: Côte d’Ivoire, Morocco, Rwanda, Senegal, and Tunisia.\n  - IMF programs can be fine-tuned to accommodate compact initiatives while protecting macroeconomic resilience and public debt sustainability."
    },
    {
      "heading": "Policy recommendations and required contributions",
      "content": "- For African governments:\n  - Step up reforms to improve economic, business, and financial climate, and governance.\n- For partners (G20 countries, international organizations, investors):\n  - Support the design and implementation of successful investment compacts tailored to each country.\n- For the IMF:\n  - Continue to play its role in ensuring macroeconomic stability, sustainable debt levels, capacity development, technical assistance, training, and financial support as needed."
    },
    {
      "heading": "Expected outcomes",
      "content": "- Higher private investment and job creation driven by policy reforms, improved infrastructure spending efficiency, stronger financial sectors, and enhanced institutional frameworks.\n- More durable and inclusive growth through revenue gains and prudent debt management.\n\nArticle by Christine Lagarde — June 12, 2017.\n\n---\n\n Content in this bundle\n\n- 非洲契约——IMF的贡献, 作者：克里斯蒂娜·拉加德, 2017年6月12日\n  - 非洲契约——IMF的贡献, 作者：克里斯蒂娜·拉加德, 2017年6月12日 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 非洲契约——IMF的贡献, 作者：克里斯蒂娜·拉加德, 2017年6月12日 (PDF){rel=\"external\" type=\"application/pdf\"}\n- アフリカとのコンパクト—Imfの貢献: クリスティーヌ・ラガルド; Imf ブログ2017年6月12日掲載\n  - アフリカとのコンパクト—Imfの貢献: クリスティーヌ・ラガルド; Imf ブログ2017年6月12日掲載 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - アフリカとのコンパクト—Imfの貢献: クリスティーヌ・ラガルド; Imf ブログ2017年6月12日掲載 (PDF){rel=\"external\" type=\"application/pdf\"}\n- „Compact with Africa“\n  - „Compact with Africa“ (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - „Compact with Africa“ (PDF){rel=\"external\" type=\"application/pdf\"}\n- «Контракт с Африкой» — вклад МВФ; Кристин Лагард;  12 июня 2017 года\n  - «Контракт с Африкой» — вклад МВФ; Кристин Лагард;  12 июня 2017 года (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - «Контракт с Африкой» — вклад МВФ; Кристин Лагард;  12 июня 2017 года (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\n References\n\n- عربي\n- https://www.imf.org/wp-content/uploads/2017/06/1099x500-Christine-Lagarde-kids-dancing-Nigeria-IMF-Staff.jpg\n\nSource: https://www.imf.org/en/blogs/articles/2017/06/12/the-compact-with-africa-the-contribution-of-the-imf"
    }
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    "Authors: Christine Lagarde",
    "Published: June 12, 2017",
    "The Compact with Africa aims to boost private investment by harnessing the expertise and resources of governments, investors, and international organizations.",
    "The Compact seeks to facilitate projects that lift productivity and living standards and create fresh opportunities across Africa.",
    "The German G20 presidency launched the Compact as an engine for job creation and poverty reduction.",
    "70 percent of the population is under 35 years of age.",
    "Estimated jobs needed: 20 million jobs need to be created in Africa every year until 2035 just to absorb new entrants into the labor force.",
    "The IMF commits to working toward a resilient macroeconomic environment and sustainable debt burdens to create conditions for more and better-paid jobs.",
    "The IMF is increasing engagement with participating Compact countries, building on long-term relations.",
    "Tax policy reforms and strengthening administrative capacity to create stronger and more reliable sources of government revenue.",
    "Improving the efficiency of public infrastructure spending.",
    "Supporting financial sector development.",
    "Strengthening rule of law and institutions, including building defenses against money laundering and the financing of terrorism.",
    "Capacity development emphasis.",
    "Financial assistance and annual assessments.",
    "For African governments:",
    "For partners (G20 countries, international organizations, investors):",
    "For the IMF:",
    "Higher private investment and job creation driven by policy reforms, improved infrastructure spending efficiency, stronger financial sectors, and enhanced institutional frameworks.",
    "More durable and inclusive growth through revenue gains and prudent debt management.",
    "**非洲契约——IMF的贡献, 作者：克里斯蒂娜·拉加德, 2017年6月12日**",
    "**アフリカとのコンパクト—Imfの貢献: クリスティーヌ・ラガルド; Imf ブログ2017年6月12日掲載**",
    "**„Compact with Africa“**",
    "**«Контракт с Африкой» — вклад МВФ; Кристин Лагард;  12 июня 2017 года**",
    "[عربي](https://blog-montada.imf.org/?p=5404)",
    "[https://www.imf.org/wp-content/uploads/2017/06/1099x500-Christine-Lagarde-kids-dancing-Nigeria-IMF-Staff.jpg](https://www.imf.org/wp-content/uploads/2017/06/1099x500-Christine-Lagarde-kids-dancing-Nigeria-IMF-Staff.jpg)"
  ],
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