International financial and monetary problems and related matters implications for African countries consideration of recent developments in respect of these problems

Abstract

During recent years economic, trends in most independent African developing countries have repealed the existence of a multifaceted crisis of development. This crisis reflects the impact of the serious economic imbalance between the developed and the developing countries, international monetary disorder economic crisis, the stationary level of official development assistance, the growing burden of public debt and various other factors. Many African countries have found themselves faced with major economic events in recent times including the quadrupling of oil prices, inflationary, pressures, the rise of commodity prices, the shortage of food products and the depreciation of reserves, Those who relied to a large extent on imports were-seriously hit, and1 recorded substantial balance of payments deficits.