Author/Editor:

International Monetary Fund. African Dept.

Publication Date:

July 18, 2017

Electronic Access:

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Summary:

The Economic Development Paper (DDE) describes the strategy adopted by the government to reverse the trend of modest economic performance, deteriorating social conditions, and persistent poverty observed in recent years. The strategy addresses the underlying causes of poverty mentioned above: modest economic performance over the past several decades, inadequately inclusive economic growth, the predominance of the subsistence economy at the expense of the money economy, reflecting the isolation of production areas; land tenure problems and deterioration of hydro-agricultural infrastructure; economic dualism, a cause of economic disjunction; persistent inflation and the erosion of purchasing power; limited coverage of the social protection system; an inefficient financial system that limits access to financing; persistent governance problems; underdeveloped sanitation infrastructure; the adverse impacts of climate change; and repeated political crises. The strategy adopts an approach that combines macroeconomic, sectoral, and structural elements that produce positive, direct impacts for poverty reduction.