Financial Crisis

17-mai-2019

Policy Brief on the Financial Crisis - What the G20 Can Do on Trade that Can Benefit Africa?

The text and data in this publication may be reproduced provided the source is cited. Reproduction for commercial purposes is forbidden. The Policy Briefs on the Financial Crisis (PBFC) are produced by the Complex of the Chief Economist with contribution from other departments of the African Development Bank. The PBFC are intended to present analyses of experiences and lessons emerging from the Financial Crisis, so as to encourage policy debate that guides the search for sustainable solutions to the crisis.
17-mai-2019

Policy Brief on the Financial Crisis - Impact of the Crisis on African Economies-Sustaining Growth and Poverty Reduction

Although most African countries are not on track to meet the Millennium Development Goals, Africa had made steady progress over the last decade, building the foundations for higher growth and poverty reduction. This more optimistic picture is now being undermined by factors outside its control. While the initial effects of the financial crisis were slow to materialize in Africa, the impact is now becoming clear. It is sweeping away firms, mines, jobs, revenues, and livelihoods; it is in short a full blown development crisis. For the first time in a decade there will be zero growth per capita...
17-mai-2019

Policy Brief on the Financial Crisis - Containing the Impact of the Global Crisis and Paving the Way to Strong Recovery in Africa

Africa was an innocent victim of the global crisis, which disrupted a period of the continent’s highest growth in decades and presented a severe setback to poverty reduction progress. Due to prudent macroeconomic policies and reforms, Africa entered the global crisis on stronger footing then the past recessions, with some countries being able to implement stimulus packages. However, many low income and especially fragile and post-conflict countries were not in the position to adopt counter-cyclical measures when the crisis hit. While the global economy shows signs of recovery, the outlook...
13-mai-2019

Economic Brief - Accelerating the AfDB’s Response to the Youth Unemployment Crisis in Africa

This paper was prepared as a background paper for the Joint Youth Employment Initiative for Africa which was launched in 2011 by the AfDB, African Union, ILO and UNECA. The objective of this initiative is to support Regional Member Countries (RMCs) in addressing the growing youth unemployment crisis in Africa. This paper was primarily a response to: (i) the Board’s concerns on high unemployment in the continent, particularly among the youth (ii) the need for a coherent Bank perspective for the high-level seminar on “youth unemployment and inclusive growth” at the 2011 annual meetings...
09-mai-2019

AEC 2010 - Environmental Conservation as an Engine for Economic Growth: Testing the Validity of Environmental Kuznets Curve on Carbon Emissions for Kenya

Environmental Kuznets Curve hypothesis postulates an inverted U-shaped relationship between Carbon dioxide emissions and per capita income. However, the experiences of many countries show that economic growth is causing an increase in resource use and pollution more than it is a solution to environmental problems. The consequences of neglecting environmental conservation can be drastic. This study investigates the role of environmental conservation as an engine for economic growth in Kenya by exploring the relevance of the Environmental Kuznets Curve. Using time series data from World...
08-mai-2019

AEC 2010 - The Effectiveness of Remittances and Foreign Aid in Promoting Savings and Investment in Sub-Saharan Africa

This study investigates the macroeconomic impact of remittances on savings and investment in Sub-Saharan Africa (SSA). It also analyzes comparatively the effectiveness of remittances and foreign aid (official development assistance) in promoting savings and investment. We use a respective sample of 37 and 34 SSA countries over the period 1980-2004. Using OLS and instrumental variables (2SLS) estimation methods with country fixed-effects, the results suggest that both remittances and foreign aid promote savings and investment in Sub-Saharan Africa, but remittances are strongly more effective....
08-mai-2019

AEC 2010 - Governance, Financial Liberalization, and Financial Development in Sub-Saharan Africa

An analysis of the roles of governance and financial liberalization in the financial development of 37 Sub-Saharan Africa (SSA) countries yields several interesting results using data from 1996 to 2008. Contrary to previous studies, financial liberalization did not have a favorable independent impact on financial development; overall, financial liberalization efforts reduced financial development, particularly from 1996 to 2002. But, good governance has improved financial development over time, especially due to reduced political instability. The effect of the origin of legal systems suggests...
08-mai-2019

AEC 2010 - External Debt Reduction and Economic Growth

Réduction de la dette extérieure et croissance économique dans les pays africains à faible revenu. Download File      AEC 2010 - External Debt Reduction and Economic Growth (1.30 MB)
06-mar-2019

Interview with AfDB’s Principal Evaluation Officer, Detlev Puetz

In this interview he granted to us shortly after a presentation on agriculture, during AEC in Addis Ababa, AfDB’s Principal Evaluation Officer, Detlev Puetz, suggests new ways for managing the crisis and supporting a post-crisis renaissance in Africa. “How to have African middle class, at least partly, embrace the great traditions of agriculture trade and business in Africa, and not selling out to foreign interests. These are for me the key questions,” Bank Group Principal Evaluation Officer, Detlev Puetz said. Question: Agricultural development programmes in Africa, in the past,...
01-aoû-2017

AfDB signs US$ 78 million grant agreements with Governments of Somalia and South Sudan to strengthen drought resilience and address chronic hunger and malnutrition

Somalia grant of US$ 34.8 million set to benefit 804,000 individuals South Sudan grant of US$ 43.8 million set to benefit 300,000 individuals Pastoralists and agro-pastoralist households among the target beneficiaries; Women, children, elderly and disabled to be prioritized  The African Development Bank (AfDB) has signed tripartite grant agreements of US$ 34.8 million and US$ 43.8 million with the Republic of Somalia and the Republic of South Sudan respectively and the Intergovernmental Authority on Development (IGAD) under the Bank’s ‘Say No To Famine – Short Term...
27-nov-2014

African Legal Support Facility Management Board holds key meeting in Abidjan

The Management Board of the African Legal Support Facility (“ALSF” or “the Facility”) launched a major meeting on November 26 in Abidjan to assess status of implementation of ongoing projects, among others. Discussions are expected to continue to November 27, and will provide an opportunity for the Management Board to consider approval of the work plan and budget for 2015, as well as other substantive documents for transmission to the Governing Council of the Facility. The second day of the meetings will be dedicated to a session under the theme “Mid-Term Review of the ALSF’s Medium Term...
07-nov-2014

Madagascar to receive US $37-million AfDB Crisis Response Budget Support Loan

Following approval of combined 2014-2016 Interim Country Strategy Paper (I-CSP) & Portfolio Performance Review (CPPR) The African Development Bank Group (AfDB) has approved a US $37-million (UA 25-million) Crisis Response Budget Support loan to Madagascar for the financing of its Emergency Economic Recovery Programme (PURE). The loan approved by the AfDB Group’s Board on Wednesday, November 5, 2014 in Abidjan falls under Pillar I window of the Transition Support Facility (TSF) to which the country became eligible following its classification as a fragile state by the AfDB and the...
02-nov-2014

Un nouveau rapport indique que la pauvreté recule encore trop lentement en Afrique

Le Rapport 2014 sur les Objectifs du millénaire pour le développement (OMD 2014), qui vient d’être publié, conclut que même si les taux de pauvreté de l’Afrique reculent plus rapidement depuis 2005, ce rythme reste insuffisant pour atteindre l’objectif de réduction de la pauvreté. Ce rapport a été élaboré par la Banque africaine de développement (BAD), en partenariat avec la Commission économique des Nations Unies pour l’Afrique (CEA), l’Union africaine (UA) et le Programme des Nations unies pour le développement (PNUD). La publication a été officiellement présentée samedi 1er...
01-nov-2014

Renforcer la réaction aux crises et le financement : démarches essentielles au maintien du progrès en Afrique

S’atteler aux vulnérabilités doit être au centre des efforts de développement du continent Selon un rapport publié, le 1er novembre, dans le cadre de la Conférence économique africaine, les pays de l’Afrique subsaharienne doivent redoubler d’efforts pour éviter que des crises telles que l’épidémie d’Ebola qui sévit actuellement en Afrique de l’Ouest ne sapent les réussites de développement, même si le niveau de vie d’un nombre croissant d’Africains s’améliore. Les taux de pauvreté de l’Afrique continuent de reculer, malgré les effets négatifs de la récente crise alimentaire,...
12-juin-2014

DRC - Emergency Programme to Mitigate the Impacts of the Financial Crisis (PUAICF) - Project Completion Report (PCR)

During the 2008 international financial crisis, the Government’s challenge was to mitigate the impacts of the crisis and speed up attainment of the Enhanced HIPC Completion Point. It was apparent that, if the Bank did not provide DRC with emergency aid, the country’s economic and social situation could deteriorate.
12-juin-2014

DRC - Emergency Programme to Mitigate the Impacts of the Financial Crisis (PUAICF) - Project Completion Report (PCR)

During the 2008 international financial crisis, the Government’s challenge was to mitigate the impacts of the crisis and speed up attainment of the Enhanced HIPC Completion Point. It was apparent that, if the Bank did not provide DRC with emergency aid, the country’s economic and social situation could deteriorate
15-jan-2014

DRC - Emergency Programme to Mitigate the Impacts of the Financial Crisis (PUAICF) - Project Completion Report (PCR)

During the 2008 international financial crisis, the Government’s challenge was to mitigate the impacts of the crisis and speed up attainment of the Enhanced HIPC Completion Point. It was apparent that, if the Bank did not provide DRC with emergency aid, the country’s economic and social situation could deteriorate
15-jan-2014

DRC - Emergency Programme to Mitigate the Impacts of the Financial Crisis (PUAICF) - PPER

The Programme d'Urgence d'Atténuation des Impacts de la Crise Financière Internationale (PUAICF) was designed as a balance of payments support programme accompanied by a government commitment to allocate counterpart funds to meet urgent expenditure items in the 2009 budget, in response to the effects of the international financial crisis on the Democratic Republic of Congo (DRC). A request for support was received in March 2009, following a consultative mission in February 2009 and correspondence with the IMF about the possibility of providing support. The programme was formulated in close...
15-jan-2014

Working Paper 122 - Welfare Analysis Using Data from the International Comparison Program for Africa

The International Comparison Program (ICP) was introduced in 1968 by the UN Statistical Commission, and housed initially at the University of Pennsylvania, to establish a system of international comparison of national account aggregates free from differences in price levels across countries1 . The Data collection started in 1970 with 10 countries and this increased to 197 countries in 2005. The number of African countries covered in this survey during this period increased from 1 to 48. Since 1985, the ICP has been managed by the ICP Global Office and is housed at the World Bank.
15-jan-2014

Working Paper 118 - Assessment of the Trade Finance Market in Africa Post-Crisis

A recent survey on the availability of trade finance conducted by the International Chamber of Commerce concluded “it remains difficult to say with any precision whether a significant gap in the provision of trade credit compared with corporate demand remains and, if so, how it can be filled by multi-lateral development banks.” However, surveys conducted of financial institutions active in African trade finance in early 2009 and updated in the first quarter 2010 and again in the third quarter 2010 show that commercial banks believe that access to trade finance remains constrained, hampering...