Constraints on Sustained Recovery from Economic Disaster in Africa

Charles Harvey

Chapter 7 in Constraints on the Success of Structural Adjustment Programmes in Africa, 1996, pp 130-151 from Palgrave Macmillan

Abstract: Abstract This paper argues that governments of African countries recovering from economic disaster have increasingly accepted that they must persist with the macroeconomic polices demanded by the IMF and the World Bank. However progress with structural reform has been more difficult; it has been slow to start (for example, seven or eight years in the case of banking reform in Ghana and Uganda) and doubtful of success. Yet a recovery of private sector investment is essential for sustained recovery, once existing capacity becomes full utilised with the greater availability of foreign exchange; and private sector investment cannot be expected to recover while the civil service, the banks and parastatals remain unreformed.

Keywords: Foreign Exchange; Civil Service; Structural Adjustment; Structural Reform; Nominal Interest Rate (search for similar items in EconPapers)
Date: 1996
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-24373-0_7

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DOI: 10.1007/978-1-349-24373-0_7

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