Africa and the International Monetary System

G. O. Nwankwo
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G. O. Nwankwo: University of Lagos

Chapter 22 in Structural Change, Economic Interdependence and World Development, 1987, pp 337-357 from Palgrave Macmillan

Abstract: Abstract On their attainment of political independence in the late 1950s and early 1960s, African countries embarked on systematic efforts to develop their economies.1 They also joined the IMS by which is meant primarily the rules, institutions, policies and practices regarding the adjustment and/or financing of external imbalances, the creation and distribution of international liquidity and the determination of exchange rates (UNDP/UNCTAD, 1983) with the primary objective of obtaining assistance in their development effort. After more than two decades’ experience, Africa remains the lost continent of development (Dam, 1983). This is the plight of Africa.

Keywords: Exchange Rate; African Country; Real Term; External Debt; IMFs Programme (search for similar items in EconPapers)
Date: 1987
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DOI: 10.1007/978-1-349-09117-1_22

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