by Catherine Snowdon Abebe Aemro Selassie, deputy director of the IMF’s African department, urges policymakers in sub-Saharan Africa (SSA) to focus on making sure banking systems are robust. Rather than looking for short-term rewards of opening credit lines, he wants to see well-capitalized and regulated banks in countries where fiscal deficits are controlled.
Abebe Aemro Selassie, deputy director, IMF’s African Department
What is the biggest economic challenge facing SSA?
This is a huge region we are talking about, with an extremely diverse group of countries and circumstances. The region has been doing very well in the last 10 to 15 years. But the single most-important challenge is to sustain the growth we have seen since 2000. We’ve seen average economic growth increase sharply.
About two-thirds of the countries in the region have enjoyed 10 or more years of uninterrupted economic growth. In a quarter of the countries, that period is coming close to 20 years. In the likes of Rwanda, Senegal, Mozambique, Uganda and Tanzania, we have seen very sustained periods of economic growth.
This growth has been built with a backdrop of very sound macroeconomic policies and stability addressing the health and education investment needs that these...
Full article: http://www.euromoney.com/Article/3380998/Category/774/ChannelPage/200603/SSA-corporate-funding-IMFTake-the-long-view-on-Africa.html?copyrightInfo=true Visit http://www.euromoney.com/reprints for additional distribution rights. For more articles like this, follow us @euromoney on Twitter.
by Catherine Snowdon Abebe Aemro Selassie, deputy director of the IMF’s African department, urges policymakers in sub-Saharan Africa (SSA) to focus on making sure banking systems are robust. Rather than looking for short-term rewards of opening credit lines, he wants to see well-capitalized and regulated banks in countries where fiscal deficits are controlled.
Abebe Aemro Selassie, deputy director, IMF’s African Department
What is the biggest economic challenge facing SSA?
This is a huge region we are talking about, with an extremely diverse group of countries and circumstances. The region has been doing very well in the last 10 to 15 years. But the single most-important challenge is to sustain the growth we have seen since 2000. We’ve seen average economic growth increase sharply.
About two-thirds of the countries in the region have enjoyed 10 or more years of uninterrupted economic growth. In a quarter of the countries, that period is coming close to 20 years. In the likes of Rwanda, Senegal, Mozambique, Uganda and Tanzania, we have seen very sustained periods of economic growth.
This growth has been built with a backdrop of very sound macroeconomic policies and stability addressing the health and education investment needs that these...
Full article: http://www.euromoney.com/Article/3380998/Category/774/ChannelPage/200603/SSA-corporate-funding-IMFTake-the-long-view-on-Africa.html?copyrightInfo=true Visit http://www.euromoney.com/reprints for additional distribution rights. For more articles like this, follow us @euromoney on Twitter.
by Catherine Snowdon Abebe Aemro Selassie, deputy director of the IMF’s African department, urges policymakers in sub-Saharan Africa (SSA) to focus on making sure banking systems are robust. Rather than looking for short-term rewards of opening credit lines, he wants to see well-capitalized and regulated banks in countries where fiscal deficits are controlled.
Abebe Aemro Selassie, deputy director, IMF’s African Department
What is the biggest economic challenge facing SSA?
This is a huge region we are talking about, with an extremely diverse group of countries and circumstances. The region has been doing very well in the last 10 to 15 years. But the single most-important challenge is to sustain the growth we have seen since 2000. We’ve seen average economic growth increase sharply.
About two-thirds of the countries in the region have enjoyed 10 or more years of uninterrupted economic growth. In a quarter of the countries, that period is coming close to 20 years. In the likes of Rwanda, Senegal, Mozambique, Uganda and Tanzania, we have seen very sustained periods of economic growth.
This growth has been built with a backdrop of very sound macroeconomic policies and stability addressing the health and education investment needs that these...
Full article: http://www.euromoney.com/Article/3380998/Category/774/ChannelPage/200603/SSA-corporate-funding-IMFTake-the-long-view-on-Africa.html?copyrightInfo=true Visit http://www.euromoney.com/reprints for additional distribution rights. For more articles like this, follow us @euromoney on Twitter.
Tehran, Oct 14, IRNA – A member of the Development Commission of the Majlis (Parliament) believes that in order to prepare the grounds for economic competition as an axis of government plan for economic prosperity, those who intend to enter this field of activity should be in conformity with each other.
Hossein Mohammadzadeh told IRNA that in order to achieve such a conformity, implementation of Article 44 of the Constitution should be put on the agenda.
According to Article 44, the economic system of Iran shall be based on public, cooperative and private sectors, with proper and sound planning.
Ownership in the aforesaid three sectors does not surpass the limits of Islamic laws, contributes to economic growth and development of the country, does not harm the society and shall enjoy protection of law in the Islamic Republic.
He said in order for the private sector to become active before governmental and quasi-governmental activists, at the first stage creation of such a ground should become one of the major policies.
Also, he further remarked, policy-makings should be formed as such that ground would be prepared for those who intend to originate change and the private sector too would find conditions for competition.
“Investors outside the country have their concerns for becoming present and having activities (in Iran) and definitely need certain guarantees for investment in such a way that they can shape their activities with utmost efficiency.”
Another important point, he added, is that investors should not enter the country without any planning as in all countries first different opportunities are identified and then investors get involved in the selected areas.
“Therefore, the government is duty bound to identify sectors which are in need of financial resources and investment by making proper planning.”
