Economic Report on Africa 1985

Abstract

The African Development Bank (ADB) and the Economic Commission for Africa (ECA) are two institutions with common objective of promoting the economic and social development of Africa. The ADB, on one hand, is empowered by its statutes to mobilize resources and to finance development projects and programmes. In Part of this Report, issues related to resource mobilization are examined in some detail. And also deeply concerned by the continuing external debt servicing problems of African countries and the consequent adverse impact on long-term economic and social development. This subject is fully discussed in Part II of the Report. African countries are encouraged to continue their efforts to undertake structural adjustment measures designed to alleviate the external debt problems. However, since Africa still needs external finance to support adjustment and development, we call on the international donor community to take urgent measures to support the adjustment efforts.