Abstract
The sharp decline in oil and other commodity prices have adversely impacted sub-Saharan Africa. Nevertheless, the region is projected to register another year of solid economic performance. In South Africa, however, growth is expected to remain lackluster, while in Guinea, Liberia, and Sierra Leone the Ebola outbreak continues to exact a heavy economic and social toll. This report also considers how sub-Saharan Africa can harness the demographic dividend from an unprecedented increase in the working age population, as well as the strength of the region's integration into global value chains.
This Selected Issues paper and Statistical Appendix analyzes recent trends in poverty and social indicators for Zimbabwe. It discusses land reform, agricultural policies, and the outcomes. The paper presents background information on the evolution of inflation and money aggregates in Zimbabwe. It analyzes the demand of money since the late 1990s, and discusses factors that can lead to diverging paths of inflation and money growth in the short term. The paper also analyzes Zimbabwe’s export performance in recent years, and identifies the factors that could improve export performance, from both a quantitative and qualitative perspective.
HIV/AIDS is a major and immediate concern for Zimbabwe. Current prevalence rates are at a level close to 20 percent of the total population, and at over 30 percent for adults in the 15–49 age group. The number of AIDS-related deaths, and of orphans are indicative of the adverse, current and future impact upon a fragile health-care system, fiscal balance, human capital accumulation, production, and economic growth. The food shortages of the past year have exacerbated the situation, as many patients fail to attain adequate nutrition levels and food intake and their families’ coping mechanisms are stretched to the limit. This chapter presents an overview of recent trends in prevalence rates; discusses the impact on social sectors and the strategies being adopted by the government and the international community to address these; and summarizes quantitative estimates of the fiscal burden and overall medium-term macroeconomic impact of HIV/AIDS on Zimbabwe.
When an IMF mission visited Swaziland for the annual Article IV consultation in April 2000, it discussed with the authorities the economic and social implications of the HIV/AIDS epidemic that the country is experiencing. This article highlights some of the issues that emerged during the visit, such as the scale of the demographic impact, the impact on the public and private sectors, and government strategies to combat the epidemic.
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.
This paper examines the policy of protectionism in world trade. It reviews alternatives to trade restrictions, factors influencing trade policies, and implications of protection for developing countries. The paper highlights that the rise in protectionist pressures is worrisome, because the likelihood of chain reactions toward more protectionism generated by individual restrictive actions is greatest in a setting of slow economic growth and highly interdependent economies. The paper also analyzes capital utilization in the manufacturing enterprises.