By International Monetary Fund, Gerald K. Helleiner

Edited by means of G.K. Helleiner, this quantity comprises the lawsuits of a symposium together subsidized through the organization of African crucial Banks and the IMF that used to be held in Nairobi, Kenya, in could 1985.

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Additional info for Africa and the International Monetary Fund : papers presented at a symposium held in Nairobi, Kenya, May 13-15, 1985

Sample text

The Fund itself is not responsible for these hostile policies, but by virtue of its operations it is seen as among those supporting developing countries' stabilization and adjustment. Therefore, it bears some responsibility to convince the industrial countries to do their own adjusting. Unless the Fund turns its considerable powers of persuasion on the North as well as on the South, it will in effect be asking those with the least economic resources to do most of the adjusting. This is inequitable as well as impractical.

It is a paradox that a continent with relatively high per capita availability of land has to import food from countries with less land. We have to improve the productivity of land use. This is a herculean task, but, given the will and international cooperation, it is not impossible. We have seen that other countries that were once importers of food grains have not only turned the trade corner, but are in a position to create adequate reserve stocks of food for effective management of domestic supply.

Tanning and the manufacture of leather products involve high value added and are not, in world terms, very technical nor capital intensive. That is one example. Another is specialty textiles, such as African prints and garments made from them. A second way is developing new manufacturing units based on natural resources and exporting finished or semifinished manufactures, such as, for example, pulp and paper from softwoods and ammonia and urea from natural gas. A third way—which straddles the border between export promotion and import substitution—is regionally oriented manufacturing.

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