Africa

Article Abstract:

The World Bank and the International Monetary Fund are seeking to move the focus of debt relief towards the reduction of poverty. This means that all sub-Saharan African countries seeking funding under the Heavily Indebted Poor Countries initiative must have a poverty-reduction plan in place. In South Africa, inflationary pressures seem to be diminishing, and this forms a good basis for a continuation of the period of interest rate reductions. The Egyptian economy continues to grow strongly, while inflationary pressures seem to be under control. Tunisia is forecast to see real gross domestic product of 6.2% in 1999.

Tunisia, South Africa, Egypt, Sub-Saharan Africa

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Africa

Article Abstract:

Factors including political instability and falling commodity prices are set to have a negative impact on the economy of sub-Saharan Africa in 1999. Civil conflict is having a particularly negative impact in Central Africa. There is continued political tension in South Africa, but it appears that inflationary pressures will continue to decline in 1999. North Africa is likely to experience above-average economic growth in the near future, although oil producing countries in the region will be negatively affected by low oil prices.

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Africa

Article Abstract:

President Clinton's visit to Africa south of the Sahara may reflect a more positive approach by the US to the region, where economic recovery appears to be flagging. South Africa is showing fiscal restraint, and inflation has been kept under control. Conglomerates are unbundling in South Africa, which is leading to restructuring of the financial services industry. Meanwhile, Egypt is seeking to promote small firms and the private sector as a way of boosting economic growth.

Economic development

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