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International Monetary Fund. African Dept.

Abstract

This paper presents the economic outlook for Sub-Saharan Africa for 2005. Against a background of an easing of demand for imports in advanced countries, average real GDP growth is expected to decline slightly in 2005 from its strong performance in 2004. The slowdown in 2005, however, is attributable primarily to lower growth in most of the oil-producing countries following the exceptional increases in oil production capacity established during 2003 and 2004, especially in Nigeria. Non-oil-producing countries are expecting average growth of about 4.5 percent, similar to that observed in 2004.

International Monetary Fund
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
International Monetary Fund

Agriculture is an important sector of the Zimbabwean economy. At independence, land ownership was highly skewed, as the sector was dominated by a few commercial farms. The initial phases of land reform, along with liberalization of the agricultural sector throughout the 1990s, helped to increase Zimbabwe’s agricultural productivity, but these gains have been reversed over the past few years. After the bumper crop season of 1999/2000, yields have plummeted, owing to droughts and the disruption of commercial farming under the Fast-Track Land Reform Program. The future of the sector is largely dependent on the success of resettled farmers, which requires better weather conditions, the availability of inputs and capital, and a stable economic environment. Preliminary data for the 2002/03 crop season indicate that, for many of Zimbabwe’s main crops, production continues to be low.

International Monetary Fund

The major public enterprises in Zimbabwe face many problems. The shortage of foreign exchange is the single most important obstacle facing the enterprises. Many companies also have a heavy debt burden and lack working capital. Maintenance and rehabilitation have been neglected for many years, and as a result, enterprises are burdened with a depleted capital stock and several operate at very low capacity levels. All public enterprises operate at controlled prices, which constrain their profitability.

International Monetary Fund
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
Willy H. Verheye

This paper describes the need to broaden the agenda for poverty reduction. The broadening of the agenda follows from a growing understanding that poverty is more than low income, a lack of education, and poor health. The poor are frequently powerless to influence the social and economic factors that determine their well being. The paper highlights that a broader definition of poverty requires a broader set of actions to fight it and increases the challenge of measuring poverty and comparing achievement across countries and over time.

International Monetary Fund
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
International Monetary Fund
This paper reviews economic developments in Swaziland during 1990–96. During 1990–95, the shares of exports and imports of goods and services in GDP averaged 81 percent and 92 percent, respectively. The overall trend in economic growth continued in 1995/96. Real GDP expansion was limited to 2.5 percent, fueled by the manufacturing and services sectors. Although there was no new major investment, several established firms expanded or modernized their operations. In particular, this led to significant improvement in the performance of the wood pulp and sugar industries.
International Monetary Fund
This paper describes economic developments in Zimbabwe during the 1990s. The paper highlights that the path of the economy since 1990 has been dominated by the impact of the severe drought in 1992. Value added in the agricultural sector declined by 24 percent in 1992, but the impact of the drought reached much further into the economy. The recovery from the drought was led by a sharp rebound in agricultural production in 1993, which grew by 48.5 percent, boosted by an above-average harvest for maize and a recovery in tobacco production.