This Selected Issues Paper and Statistical Appendix for Niger are discussed. The Nigerien economic outlook has been improving since 1999. After a long period of decline in per capita income, growth accelerated through 2007, attaining an annual average of 4 percent, or about 1 percent in per capita terms. Economic reforms and political stability have attracted external aid and higher domestic and external private investment. The Equilibrium Real Exchange Rate Approach indicates a moderate undervaluation of 0.7 percent to 3.7 percent.
This paper highlights the macro and microeconomic challenges associated with success of the effort to mobilize 0.7 percent of GNP for official development assistance (ODA). To promote achievement of the Millennium Development Goals, enhanced ODA must be as productive as possible. In weighing the distribution of enhanced ODA among countries, the paper emphasizes the need to limit potentially adverse “real transfer effects.” It recommends a multi-pronged approach to ODA that includes, inter alia, in addition to direct bilateral transfers, enhanced use of trust funds and the financing of global public goods.
Mr. Dhaneshwar Ghura, E. Murat Ucer, Mr. Martin Mühleisen, Mr. Michael T. Hadjimichael, and Mr. Roger Nord
The analysis of this paper indicates that the unsatisfactory overall economic performance of sub-Saharan African countries during 1986–93 was due to inappropriate policies pursued by a number of countries. The countries that have pursued broadly appropriate adjustment policies have performed much better, achieving positive per capita GDP growth. The analysis is supported with an econometric investigation of the effects of macroeconomic policies, structural reforms, and exogenous factors on economic performance. The results indicate that progress in achieving macroeconomic stability and implementing structural reforms have been conducive to better growth, savings, and private investment.
International Monetary Fund. Secretary's Department
The speeches made by officials attending the IMF–World Bank Annual Meetings are published in this volume, along with the press communiqués issued by the International Monetary and Financial Committee and the Development Committee at the conclusion of the meetings.