On Wed, 19 Jan 2000 15:21:17 +0000, B.M.Jones <[log in to unmask]>
wrote:
>Sidi
>
>Thanks for the posting on the economic summit. It's about
>time that the IMF and World Bank reorientate and refocus
>their policies and lending on the plight of African
>countries. Which is the fight against poverty and
>destitution.
>
>We have suffered enormously and overwhelmed under the
>claws of successive and numerous conditionalities imposed
>by these institutions. In our own particular circumstance in
>the Gambia, my position has always been that despite the
>rhetoric of macroeconimic gains, there has always been
>difficulties in translating these macro gains to tangible
Emicro benefits for the resource poor rural sector for whom
>poverty reduction is more paramount.Villagers knows nothing
>about interest rate and all he/she cares about is improving
>his livelihood and providing health and education
>opportunities for his family.
>
>The emphasis on macroeconomic stability, and structural
>reforms i.e. privatization and the objective of getting the
>prices right, has not solved the engrained and endemic
>poverty issues of the Gambia. It is imperative that
>economic policy formulation in Africa charts in new path. I
>think the Africa-Gabon summit is a step in the right
>direction.
>
>I also read that the IMF now have a poverty reduction and
>growth facility where the emphasis is on poverty reduction,
>governance and civil society participation. This is a
>welcome departure from the short term view of the economy
>taken by the IMF and more in li
ne with the long term view
>of the World Bank.
>
>Having said that, we should not lose sight of the fact the
>prudent macroeconmic management of the economy is essential
>for long term development and growth. For it is only when
>the economy is growing and providing opportunities for the
>marginalized of society can we honestly say that there is
>improvements in living standards of the Gambian people. I
>hope the policy makers will now give renewed focus and
>emphasis on reducing infant mortality rates and increasing
>school enrollment ratio rather than the narrow macroeconomic
>objectives.
>
>basil
>
>
>On Tue, 18 Jan 2000 12:56:14 -0500 Sidi Sanneh
><[log in to unmask]> wrote:
>
>> This is a summary of today's Summit proceedings from the AFP
>>
>> LIBREVILLE, Jan 18 (AFP)- African countries must work together with their
> E international partners to reduce poverty on the world's poorest
continent,
>> Gabonese President Omar Bongo said at the start of a summit here Tuesday.
>> Host Bongo said that "innovative and concrete solutions" were necessary
to
>> pursue the goals of "reducing poverty and strenghthening democracy, peace
>> and security in Africa" as well as consolidating regional integration and
>> improving the management of public affairs. IMF director general said,
for
>> his part: "Africa is ready for a new renaissance." He added: "African
>> countries have achance to take the initiative to consolidate the gains of
>> the past decade, but also to go much furth
>> er."
>>
>> World Bank Vice President for Africa Jean-Louis Sarbib said the summit
was
>> a "new landmark in the discussions between the Bretton Woods institutions
>> and African countri
es" for the continent's development. He lamented that
>> "the distribution of incomes is most unequal in Africa.
>> ADB President Omar Kabbaj agreed: "We must devote all our attention to a
>> more equal distridution of wealth." THE SUMMIT CONTINUES TOMORROW.
>>
>>
----------------------------------------------------------------------------
>>
>> To unsubscribe/subscribe or view archives of postings, go to the Gambia-L
>> Web interface at: http://maelstrom.stjohns.edu/archives/gambia-l.html
>>
>>
----------------------------------------------------------------------------
>
>----------------------
>B.M.Jones
>[log in to unmask]
>
>---------------------------------------------------------------------------
-
>
>To unsubscribe/subscribe or view archives of postings, go to the Gambia-L
>Web interface at:
http://maelstrom.stjohns.edu/archives/gambia-l.html
>
>---------------------------------------------------------------------------
-
Basil,
I could not agree with you more on the question of the need for the
Bretton Woods institution to refocus their hetherto unsuccessful lending
instruments designed specifically for poor countries. The introduction of
what is now called the Poverty Reduction and Growth Facility (PRGF)
replaces the Enhanced Structural Adjustment Facility (ESAF)which, as you
are quite aware, not only placed undue emphasis, in my view, on deficit
reduction, growth and inflation targets that most countries fail to meet,
but was externally concocted.
The PRGF takes on a more inclusive approach to macro-economic mamangement
(the new buzz word being participatory approach) with the onus on
government, development agencies, NGOs, civil society etc. etc.for
the
designing of future adjustment programmes. Equally important is the reduced
weight placed on the macro- indicators. Up to this point, I have very
little or no problem.
I start to get the gitters when the GDP threshold of between 5 and 8
percent is set for the programme to be successful ie. for the rural poor to
see any change in their livelihood when currently most African economies
are growing between 3 and 4 percent, coupled with countless and senseless
wars raging across a continent where 300 million human beings live on less
tha$1 a day per capita.
Assuming that the growth targets are met, a highly centralised
administrative structure, which is the current norm in most, if not all, of
these countries remotely resembles the required delivery mechanism for
efficient distribution of the "spoils" generated on the backs of the
farmers.
In short, we must de-centralise the administr
ative services prior to
embarking on the PGRF.
(These are my views and, thus, not necessarily shared by the ADB or Member
countries)
Sidi Sanneh
----------------------------------------------------------------------------
To unsubscribe/subscribe or view archives of postings, go to the Gambia-L
Web interface at: http://maelstrom.stjohns.edu/archives/gambia-l.html
----------------------------------------------------------------------------
|
