The New International Financial Architecture and Africa

IMF Working Papers, September 1, 2001

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The New International Financial Architecture and Africa

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Bibliographic details

• Authors: Saleh M. Nsouli, Françoise Le Gall
• Published: September 1, 2001
• Series: IMF Working Papers
• DOI: https://doi.org/10.5089/9781451855197.001

Summary

• The new international financial architecture can help African countries benefit from globalization, while minimizing the risks, and foster an environment conducive to increased domestic investment and higher sustained growth.
• The paper highlights the progress that African countries have made in several areas of the new architecture, but it also underscores the considerable way that these countries must go to meet the requirements of the new architecture.
• Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.

Key findings and themes

• Globalization: The new international financial architecture is presented as a mechanism to allow African countries to benefit from globalization while reducing associated risks.
• Domestic investment and growth: The architecture is seen as fostering an environment conducive to increased domestic investment and higher sustained growth.
• Progress and gaps: African countries have made progress in several areas of the new architecture, but there remains a considerable way to go to meet its requirements.

Subject coverage and keywords

• Subject: Balance of payments, Banking, Capital account, Exchange rate arrangements, Financial Sector Assessment Program, Financial sector policy and analysis, Foreign exchange, Poverty, Poverty reduction, Poverty reduction strategy
• Keywords: a number of country, Africa, Capital account, country official, debt relief, East Asia, exchange rate, Exchange rate arrangements, Financial Sector Assessment Program, globalization, international financial architecture, member country, NBR power, North Africa, Poverty reduction, Poverty reduction strategy, Sub-Saharan Africa, WP

Content in this bundle

• The New International Financial Architecture and Africa - WP/01/130
  • The New International Financial Architecture and Africa - WP/01/130 (Markdown version)
  • The New International Financial Architecture and Africa - WP/01/130 (PDF)