The balance of payments problems of developing Africa : a reassessment

Abstract

The paper is divided into six sections. Part I dwells on the nature and origin of the balance-of--payments problems. Part II discusses the major trends in African trade in African trade in goods, including the relationship of experts to economic growth. Part III discusses trends and problems in African invisible trade. Part IV assesses the various policies pursued by African countries to reduce their balance-of-payments deficits while part examines the efficacy of IMF prescriptions in an African setting. Part VI summarizes the conclusions and recommendations of the study. In addition, case studies on six selected African countries s highlighting the evolution and impact of the adjustment policies adopted and their main effects on external accounts .and overall economic performance are presented