[ 1984 ] Part 1 Sec 2 Chapter 3 Economic Assistance, Disasters

Total Page:16

File Type:pdf, Size:1020Kb

[ 1984 ] Part 1 Sec 2 Chapter 3 Economic Assistance, Disasters Economic assistance, disasters and emergency relief 463 Chapter III Economic assistance, disasters and emergency relief Through a number of organizations, the United and Principe (39/187), Sierra Leone (39/192), Uganda Nations continued in 1984 to provide special as­ (39/188) and Vanuatu (39/198). sistance to countries with serious economic difficulties. The United Nations system continued to respond Those problems were frequently aggravated by natural to emergency situations arising from natural dis­ or other disasters. Of particular concern was the asters, mainly through action co-ordinated by the critical economic situation in Africa which was com­ Office of the United Nations Disaster Relief Co­ pounded by a prolonged drought in certain regions. ordinator (UNDRO). The Assembly (in resolutions Both the Economic and Social Council and the General 39/190, 39/191, 39/194, 39/201, 39/205 and 39/206) Assembly added an item to their agenda for the and the Council (in resolutions 1984/3, 1984/5, 1984/6 first time on that situation. In a December resolu­ and 1984/7 and decision 1984/106) dealt with as­ tion (39/29), the Assembly adopted the Declara­ sistance needs resulting from die continuing drought tion on the Critical Economic Situation in Africa, in certain areas in Africa, particularly the Sudano- expressing concern at the crisis which over the previous Sahelian region and East Africa; cyclones and floods few years had assumed alarming proportions, seriously in Madagascar; a cyclone in Swaziland; and an earth­ jeopardizing not only the development process, but quake in "Yemen. Both the Assembly and the Council, also the very survival of millions of people. By the in resolutions 39/207 and 1984/60 respectively, called Declaration, the Assembly outlined the problems for strengthening the United Nations capacity to and proposed remedial measures. respond to disasters. In order to view firsthand the effects of widespread In addition to special economic assistance and drought, food shortages, livestock epidemics and disaster relief, emergency humanitarian assistance dwindling resources, the Secretary-General travelled was provided to Lebanon. Lebanon had been un­ to eight countries in West Africa from 17 January able to carry out its reconstruction programme due to 4 February. On his return, he remarked that the to renewed fighting and disorder and the military dimensions of the human tragedy became all the situation in the south. The Assembly, in resolution more poignant during his trip, and he called on the 39/197, called for assistance for the reconstruction international community to respond urgently and and development of Lebanon, as did the Council adequately, as lives were threatened and the eco­ in decision 1984/174. nomic survival of many African countries was at Topics related to this chapter. Development policy stake. In addition to problems of food, health, water and international economic co-operation: special supply, refugees, transportation and communica­ economic areas—developing countries. Regional tion, the international community needed to deal economic and social activities: Africa—economic with the causes of the crisis, he said. In Decem­ and social trends; Asia and die Pacific—typhoons. ber, the Secretary-General established the United Food: food aid. Environment: desertification. Nations Office for Emergency Operations in Africa; Children—emergency relief. Refugees: assistance the Administrator of the United Nations Development to refugees. Programme (UNDP) was appointed to direct the new Office. The most urgent problem was famine, which was complicated by problems of transport, storage and distribution of food. With regard to countries suffering grave economic Economic assistance difficulties, the Economic and Social Council in July called for assistance to Guinea (resolution 1984/59), In response to requests by the General Assem­ and in December the Assembly adopted a series bly, the United Nations in 1984 continued to pro­ of resolutions calling for economic assistance to Benin vide special assistance to a number of developing (39/185), Cape Verde (39/189), the Central Afri­ countries faced with particularly severe economic can Republic (39/180), Chad (39/195), the Comoros problems. A wide range of adverse economic con­ (39/193), Democratic Yemen (39/184), Djibouti ditions, often accompanied by damaging climatic (39/200), Equatorial Guinea (39/181), the Gambia events, had jeopardized the development of those (39/203), Guinea (39/202), Guinea-Bissau (39/186), countries. Haiti (39/196), Lesotho (39/183), Liberia (39/182), The Secretary-General, by various 1982 and 1983 Mozambique (39/199), Nicaragua (39/204), Sao Tome resolutions, had been requested to report to die As- PDF compression, OCR, web optimization using a watermarked evaluation copy of CVISION PDFCompressor 464 Economic and social questions sembly in 1984 on the economic situation and on of them were before the Committee; another, on the progress made in organizing and implement­ Guinea, was under preparation. Of the 18 Afri­ ing special programmes of economic assistance for can States included, 14 had been classified by the a number of developing countries. Each of the United Nations as least developed countries countries concerned was asked whether it would (LDCs). The effects of the prolonged drought had prefer the report to be based on the findings of compounded their situation. a visiting review mission or whether it would wish Many of the countries concerned had heavy to provide the information to be used in a brief, debt-servicing burdens which obliged them to re­ interim report to the Assembly. Eleven of the coun­ quest rescheduling of their external debts. Noting tries concerned chose the latter form; accordingly, that a number of the countries had taken austerity the Secretary-General, in September and Oc­ measures, the Co-ordinator called on the interna­ 1 tober/ ) submitted summary reports for 11 coun­ tional community to support those efforts by in­ tries for which special programmes of economic creasing die flow of financial and other assistance. assistance were being implemented, based on in­ A number of the countries had mobilized addi­ formation supplied by diem. The summaries— tional external resources by organizing donor con­ for Bolivia, Ecuador and Peru; Chad; the ferences and round-tables which deserved the sup­ Comoros; Djibouti; Equatorial Guinea; the Gam­ port of the international community. On behalf bia; Sierra Leone; Tonga; and Uganda—addressed of the Secretary-General, he appealed to bilateral die main developments in the respective economies and multilateral donors to respond generously. and the status of the special programme of eco­ In an October report to the Assembly/13) the nomic assistance. Secretary-General described the implementation The Secretary-General also submitted in­ of the Substantial New Programme of Action for dividual reports on assistance rendered to the 1980s for the Least Developed Countries Benin/2) Cape Verde/3) the Central African (SNPA), adopted by die 1981 United Nations Con­ 4 5 6 ference on the Least Developed Countries^14) and Republic/ ) Democratic Yemen/ ) Guinea/ ) 15 Lesotho/7' Mozambique/8) Nicaragua/9) Sao endorsed that year by the Assembly/ ) SNPA was Tome and Principe^10) and Vanuatu.(") In a fur­ aimed at helping LDCs achieve a self-sustained ther report to the Assembly/12) he described as­ economy and enabling them to attain internation­ sistance provided by the United Nations system ally accepted minimum standards of nutrition, to 20 countries: Benin, Bolivia, Cape Verde, Cen­ health, housing and education. The report, pre­ tral African Republic, Chad, Comoros, Djibouti, pared by the secretariat of UNCTAD, gave a brief Ecuador, Equatorial Guinea, Gambia, Ghana, account of the recent economic performance of Guinea-Bissau, Lesotho, Mozambique, Peru, Sao LDCs (see p. 413). Tome and Principe, Sierra Leone, Tonga, Uganda, Vanuatu. The summaries of aid to those countries GENERAL ASSEMBLY ACTION were based on information provided by special­ The General Assembly, acting on the recom­ ized agencies and other United Nations bodies, mendation of the Second Committee, adopted programmes and organizations that had rendered without vote decision 39/431. technical and other forms of assistance within their various fields of competence: FAO, UNESCO, WHO, Special programmes of economic assistance the World Bank and IDA, IMF, ICAO, UPU, ITU, At its 103rd plenary meeting, on 17 December 1984, WMO, IMO, WIPO, IFAD, UNDP, UNCTAD, UNICEF, the General Assembly, on the recommendation of the Second Committee: UNIDO, UNCDF, UNCHS, WFP, WFC, UNFPA, (a) Took note of the summary reports of the UNDRO, DTCD and UNHCR. (See below for details Secretary-General on Bolivia, Ecuador and Peru, and on individual countries.) on Tonga; The Assembly took note of the Secretary- (b) Took note of the oral report made on 5 Novem­ General's report on system-wide assistance when ber 1984 by the United Nations Disaster Relief Co­ it adopted decision 39/431 on 17 December. ordinator on the steps taken to implement General As­ sembly resolution 38/217 of 20 December 1983, entided Speaking to the Assembly's Second (Economic "Special assistance to alleviate the economic and social and Financial) Committee on 2 November, the problems faced in regions of Honduras and Nicaragua Under-Secretary-General for Special Political as a result of the May 1982 floods and other subsequent Questions and Co-ordinator for Special Economic natural disasters"; Assistance Programmes, Abdulrahim Abby Farah, (c) Took note of the report of the Secretary-General reported that nine additional countries (Bolivia, on assistance provided by the United Nations system. Ecuador, Guinea, Kiribati, Madagascar, Peru, Swaziland, Tuvalu and Vanuatu) had been added General Assembly decision 39/431 during the year to those for which special Adopted without vote programmes of economic assistance had been es­ Approved by Second Committee (A/39/793) without vote, 30 November (meeting 54); oral proposal by Chairman; agenda item 83 fb). tablished, bringing the total to 25. Reports on 20 Meeting numbers. GA 39th session: 2nd Committee 32, 34, 54; plenary 103.
Recommended publications
  • Sierra Leone
    Report of the Implementation of the Least Developed Countries (LDC) Programme of Action 2011-2020 Sierra Leone I. EXECUTIVE SUMMARY ..................................................................................................... 2 II. INTRODUCTION ........................................................................................................... 3 III. THE NATIONAL DEVELOPMENT PLANNING PROCESS ................................... 3 IV. ASSESSMENT OF PROGRESS AND CHALLENGES IN THE IMPLEMENTATION OF THE ISTANBUL PROGRAMME OF ACTION FOR THE DECADE 2011-2020 ............................................................................................................ 5 V. COHERENCE AND LINKAGES WITH THE 2030 AGENDA AND OTHER GLOBAL PROCESSES ..................................................................................................... 19 VI. TOWARDS THE NEXT LDC AGENDA .................................................................. 20 VII. STATISTICAL ANNEX .................................................................................................... 22 1 I. EXECUTIVE SUMMARY The Republic of Sierra Leone comprises five regions – North, North West, East, South and Western Regions consisting of sixteen administrative districts, namely: Bo, Bombali, Bonthe, Falaba, Kailahun, Kambia, Karene, Kenema, Koinadugu, Kono, Moyamba, Port Loko, Pujehun, Tonkolili, Western Rural and Western Urban. Sierra Leone is bordered by Guinea to the north and northeast, Liberia to the south and southeast, and the Atlantic Ocean to the west.
    [Show full text]
  • Governance and Political Economy Constraints to World Bank CAS Priorities in Sierra Leone
    Governance and Political Economy Constraints to World Bank CAS Priorities in Sierra Leone James A. Robinsony October 2008 I am greatly indebted to Mohamed Gibril Sesay without whose assistance and wisdom I would never have been able to undertake this research. Most of the ideas I discuss here formed during discussions with him. I am also particularly indebted to Ishac Diwan who suggested and facilitated this research and most important challenged me to make it ambitious. I would also like to thank Doug Addison, Juan Costain, Engilbert Gud- mundsson, and Nicola Smithers for their suggestions and all of the people who gave so generously of their time in Freetown, Bo and Koidu. The views expressed in this paper are my own and not those of the World Bank Group. yHarvard University, Department of Government, IQSS, 1737 Cambridge Street N309, Cambridge, MA 01238; e-mail: [email protected]. Abstract In this paper I discuss the political economy of Sierra Leone and how it should in‡uence the World Bank’sCountry Assistance Strategy (CAS). The main focus of the research is to try to understand the extent to which the perverse political incentives which drove the country into poverty and civil war between 1961 and 1991 have re-asserted themselves since the return of peace in 2002. This question is made particularly compelling by the return to power in 2007 of the All People’sCongress Party, who presided over the decline of the country. My preliminary conclusion is that while there are some obvious changes in the political environment, appeal remains in the political strategies which were so costly to the nation and some new forces which have emerged have potentially perverse consequences.
    [Show full text]
  • Report on the Status of Youth in Sierra Leone
    SIERRA LEONE STATUS OF THE YOUTH REPORT 2012 Table of Contents Table of Contents. .............................................................................................................................. i List of Acronyms. .............................................................................................................................. iii Definitions of Terminologies. ............................................................................................................ v Foreword .......................................................................................................................................... vi Preface. ............................................................................................................................................ vii Executive Summary ......................................................................................................................... viii List of Figures ................................................................................................................................. xviii List of Tables ....................................................................................................................................xix List of Boxes ...................................................................................................................................... xx 1. OVERVIEW .............................................................................................................................. 1 1.1 BACKGROUND/INTRODUCTION
    [Show full text]
  • Economic Growth, Institutions, and the Natural Resource Curse in Sierra Leone: an Empirical Investigation
    International Journal of Business and Social Science Vol. 7, No. 5; May 2016 Economic Growth, Institutions, and the Natural Resource Curse in Sierra Leone: an Empirical Investigation Chernor Momodu Bah China University of Geosciences Master's Degree Student Lumo Street – Wuchang 430074 - Wuhan – Hubei PR – China Abstract This paper empirically investigates the existence of the resource curse in Sierra Leone through looking at the relationship between economic growth and resource dependence. The study adopted a Barrow-type growth model to analyze the effect of natural resource dependence on economic growth. A time series approximation technique was employed using relevant data from Sierra Leone from 1975-2014. The results from the time series regressions found a positive relationship between the rate of economic growth and natural resource dependence. This means that, the findings of this paper rejected the resource curse hypothesis in the Sierra Leone context relative to the data and method (time series analysis) employed. The findings suggests that a 1% increase in total natural resources rents (% of GDP), as a proxy of resource dependence, improves the economic growth of the country by approximately 9% in the long run. To this end, the government should endeavor to improve the means and methods of collecting natural resources rents to boost the economy of the country, hence economic development and the standard of living of the people in the country. Keywords: Economic Growth, Institutions, Natural Resources, Resource Curse 1.1 Introduction For the past several years, the relationship between economic growth and natural resources abundance has been a subject of debate and a renewed interest in this subject emerged in the 1990s.
    [Show full text]
  • Promoting High-Level Sustainable Growth to Reduce Unemployment in Africa List Price: USD $ 40.00 List Price: ISBN: 978-92-1-125113-5 African Union
    Economic Report on Africa 2010 Economic Commission for Africa African Union Due to the global financial crisis, the world economy contracted by 2.2 per cent in 2009, but there are signs that it has begun to stabilize. GDP growth in Africa declined from 4.5 per cent in 2008 to 1.6 per cent in 2009 and is expected to rise to 4.3 per cent in 2010. Despite the decrease in world commodity prices, primary commodity exports remain the major driver of growth in Africa. The global economic downturn exacerbated the already high unemployment rates and reduce sustainable unemployment high-level growth to in Africa Promoting vulnerable employment in Africa. Unemployment rates remained high and increasing especially among vulnerable groups in Africa even during the last decade of relatively high growth, making it difficult for the continent to reduce poverty. Africa’s high and growing unemployment rates stem from both supply and demand sources, including rapidly growing labour supply owing to high population growth rates, increased Economic Report on labour participation and slow growth in labour demand as economic growth has been both insufficient and dependent on capital-intensive enclave sectors with low employment elasticity Africa 2010 In the aftermath of the crisis, African countries should pursue policies that counter the effects of the recession and at the same time lay the foundation for long-term, high-level, Promoting high-level sustainable growth sustainable and employment-focused growth. Besides a comprehensive development to reduce unemployment in Africa planning framework that embodies well-designed and implemented macroeconomic and sectoral strategies, this requires appropriate investment in infrastructure, human capital, improved domestic resource mobilization, factor market reforms, incentives to support private sector employment, and efforts to increase productivity.
    [Show full text]
  • World Bank Document
    RESTRICTED UJ copy Report No. AW-3a This report was prepared for use within the Bank and its affiliated organizations. Public Disclosure Authorized They do not accept responsibility for its accuracy or completeness. The report may not be published nor may it be quoted as representing their views. INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT INTERNATIONAL DEVELOPMENT ASSOCIATION Public Disclosure Authorized THE CURRENT ECONOMIC POSITION AND PROSPECTS OF SIERRA LEONE Public Disclosure Authorized February 28, 1969 Public Disclosure Authorized Western Africa Department CURRENCY EQUIVALENTS 1 Leone US $ 1. 20 1 dollar = LE 0. 833 THE CURRENT ECONOVC POSITION AND PROSPECTS OF SIERRA LEONE TABLE OF CONTENTS Page No. BASIC DATA SUMMKARY AND CONCLUSIONS - iii I. The Economy of Sierra Leone 1 A. Introduction 1 B. Structure of the Economy 2 C. Agriculture 4 D. Hining 6 E. Manufacturing 7 II. Recent Performance in the Monetary Sectors 9 A. Growth and Investment 9 B. Balance of Payments 11 C. Public Sector Finance 13 Central Government 13 Public Corporations 15 D. Money Supply and Domestic Credit 16 E. The 1967/68 Stabilization Effort 17 III. Economic Prospects 21 A. The Future Direction of Sierra Leone's Development Effort 21 B. A Projection of Central Government Development Expenditure 25 C. Financing Requirements 29 D. Organizing for Development 32 E. Exports and Balance of Payments 33 STATISTICAL APPENDIX ANTL: Some Notes on Sierra Leone's Experience with iedium-Term Suppliers' and Contractorst Credits HAP This report is based on the findings of a mission, consisting of Eessrs. Loreto Dominguez and Werner Hammel, which visited Sierra Leone in May and June, 1968.
    [Show full text]
  • Sierra Leone, the Constraints Analysis Would Be Concerned with What Is Preventing the Country from Achieving Broad-Based Economic Growth
    The production of the constraints analyses posted on this website was led by the partner governments, and was used in the development of a Millennium Challenge Compact or threshold program. Although the preparation of the constraints analysis is a collaborative process, posting of the constraints analyses on this website does not constitute an endorsement by MCC of the content presented therein. 2014-001-1569-02 Republic of Sierra Leone SIERRA LEONE CONSTRAINTS ANALYSIS REPORT: A Diagnostic Study of the Sierra Leone Economy; Identifying Binding Constraints to Private Investments and Broad-based Growth FINAL REPORT An Analysis Prepared by the Government of Sierra Leone with Technical Assistance from the Millennium Challenge Corporation of the United States of America, for the Development of a Millennium Challenge Compact DECEMBER 2013 i Table of Contents LIST OF TABLES 8 LIST OF FIGURES 10 1 INTRODUCTION 22 2 ECONOMIC GROWTH: HISTORICAL PERSPECTIVE AND OVERVIEW 24 2.1 Summary Poverty Profile 26 2.2 GDP Growth Performance 27 2.3 Agricultural Sector Analysis 29 2.3.1 Contribution to GDP 29 2.3.2 Rice Production 30 2.3.3 Comparative Country Analysis 31 2.4 Export and Trade Performance 32 2.4.1 Trade Balance 32 2.4.2 Export Performance (2001‐2011) 33 2.4.3 Composition of Exports 34 2.4.4 Comparative Analysis 35 2.5 Industrial Sector 35 2.5.1 Comparative Country Analysis 37 2.6 Service Sector 37 2.6.1 Tourism 38 2.6.2 Finance, Insurance and Real Estate 39 2.6.3 Comparative Analysis 39 2.7 Trends in Real GDP per Capita 39 2.7.1 Conclusion 40
    [Show full text]
  • IDL-8432.Pdf
    IDRC-MR192e ENERGY DECISIONS IN DEVELOPING COUNTRIES IN AFRICA A Case Study of Sierra Leone Ogunlade R. Davidson Director, University Research and Development Services Bureau, University of Sierra Leone, Freetown, Sierra Leone Material contained in this report is produced as submitted and has not been subjected to peer review or rigorous editing by IORC Communications Division staff. Unless otherwise stated, copyright for material in this report is held by the author. Mention of proprietary names does not constitute endorsement of the product and is given only for information. DECLARATION This report is prepared under contract with the International Development Research Centre (IDRC), Ottawa, Canada and should not be quoted or duplicated with the permission of the Centre. The views expressed in the report are those of the author and not of IDRC. Ogunlade R. Davidson July 1986 ACKNOWLEDGEMENTS This study was commissioned by the Energy, Science and Technology Policy Studies Unit of the Social Sciences Division of IDRC. The consultant is greatly appreciative of the opportunity given to him to carry out this study and to continue to serve IDRC. He wishes to extend his gratitude to several people who have contributed to this project. Firstly to the staff of the University Research and Services Bureau who has helped in information gathering and typing the draft of this report especially Mr. Adeshino Taylor, Miss Eleanor Hanciles, Mrs. Sarian Aiydeke and Miss M. Neville for the computational work. Lastly I must express my thanks to all the respondents that helped in making our information searching exercise possible. TABLE OF CONTENTS LIST OF TABLES EXECUTIVE SUMMARY CHAPTER 1 GENERAL INTRODUCTION 1 1.
    [Show full text]
  • The Impact of the Global Financial Crisis on the Economy of Sierra Leone
    Country Study number 18 September, 2009 THE IMPACT OF THE GLOBAL FINANCIAL CRISIS ON THE ECONOMY OF SIERRA LEONE A REPORT FOR UNDP FREETOWN AND THE MINISTRY OF FINANCE AND ECONOMIC DEVELOPMENT, REPUBLIC OF SIERRA LEONE John Weeks School of Oriental & African Studies, University of London International Centre for Inclusive Growth Copyright© 2009 International Policy Centre for Inclusive Growth United Nations Development Programme International Policy Centre for Inclusive Growth Esplanada dos Ministérios, Bloco O, 7º andar 70052-900 Brasilia, DF - Brazil Telephone: +55 61 2105 5000 E-mail: [email protected] URL: www.ipc-undp.org The International Policy Centre for Inclusive Growth is jointly supported by the Poverty Practice, Bureau for Development Policy, UNDP and the Government of Brazil. Rights and Permissions All rights reserved. The text and data in this publication may be reproduced as long as the source is cited. Reproductions for commercial purposes are forbidden. The International Policy Centre for Inclusive Growth disseminates these Country Studies to encourage the exchange of ideas about development issues. These studies are signed by the authors and should be cited accordingly. The findings, interpretations, and conclusions that they express are those of the authors and not necessarily those of the United Nations Development Programme or the Government of Brazil. Country Studies are available online at www.ipc-undp.org and subscriptions can be requested by email to [email protected] THE IMPACT OF THE GLOBAL FINANCIAL CRISIS ON THE ECONOMY OF SIERRA LEONE A REPORT FOR UNDP FREETOWN AND THE MINISTRY OF FINANCE AND ECONOMIC DEVELOPMENT, REPUBLIC OF SIERRA LEONE John Weeks* EXECUTIVE SUMMARY GLOBAL CRISIS AND POVERTY PREVENTION Most recent statistics indicate that the global financial crisis will cause a fall in export earnings in Sierra Leone of approximately fifteen percent in 2009 compared to 2008.
    [Show full text]
  • Download Full Text
    International Journal of Social Science and Economic Research ISSN: 2455-8834 Volume:06, Issue:02 "February 2021" THE IMPACT OF EXCHANGE RATE FLUCTUATIONS AND MONEY SUPPLY ON INFLATION IN SIERRA LEONE (1986-2019) Mohamed Ibrahim Justice Ganawah Lecturer at the Department of Economics and Commerce Fourah bay College, University of Sierra Leone DOI: 10.46609/IJSSER.2021.v06i02.004 URL: https://doi.org/10.46609/IJSSER.2021.v06i02.004 ABSTRACT This paper aims at providing quantitative analysis of the impact of money Supply and exchange rate fluctuations on inflation in Sierra Leone. The paper utilizes secondary data that were obtained from the International Financial Statistics (IFS), of all variables investigated in the model. The sample covers quarterly data from 1986:01 to 2019:04. The model was estimated using Vector Error Correction Mechanism (VECM). The empirical results confirm that in the long run, money supply and exchange rate have significant inverse effects on inflationary pressure, while real output growth and foreign price changes have direct effects on inflationary pressure. The possible justification for the inverse effect of money supply on price level is that inflation may not be due to aggregate demand pressure but rather due to hiccups in the supply chain of goods both from the domestic and foreign supply outlets. Empirical deductions also signify the presence of significant feedback from the long run to short run disequilibrium. However, there exists a causal linkage between inflation, money supply and exchange rate in Sierra Leone. Keyword: Money supply, Exchange rate, Inflation, Real output 1. INTRODUCTION The economy of Sierra Leone economy, like most developing economies, started experiencing economic problems in the 1970s.
    [Show full text]
  • 1. the Effects of Real Exchange Rate on the Economic Growth in Sierra
    THE EFFECTS OF REAL EXCHANGE RATE ON THE ECONOMIC GROWTH IN SIERRA LEONE (1980 – 2015) LEROY N. JOHNSON1 ABSTRACT The study investigates the nexus concerning real exchange rate and economic growth in Sierra Leone with coverage 1980-2015. Johansen Cointegration Approach was employed to gauge the short run and long equilibrium relationship existing among the variables of interest. Empirical results indicate significant long run relationship exists between exchange rate and economic growth. Furthermore, exchange rate has positive impact on economic growth in the short run while a negative impact in the long run. The emphasis is therefore on the fact that moderate exchange rate depreciation in the long run spurs economic growth. To ensure sustained economic growth, policies that curtail inflationary pressures, direct Government expenditures to productive areas of the economy, revamp domestic industries and ensure relative exchange stability should be pursued by monetary and fiscal authorities. 1 Contact: [email protected] Revista del Ciclo Económico ©. Todos los derechos reservados. [Trans. The Journal of Business Cycles ©. All Rights Reserved.]. Buenos Aires Argentina Vol I. No.1. 2020 1 CHAPTER ONE 1.1 Background In economic and financial spheres, exchange rate is considered an essential variable for charting the growth of a country’s economy. Nominal Exchange rate expresses one currency’s price with respect to the price of another currency. Alternatively, exchange rate expresses foreign currency’s price in terms of the domestic currency. However, real exchange rate shows the degree of competitiveness of a country’s economy to international trade. It is the price of tradables compared to nontradables.
    [Show full text]
  • Review of Capacity-Building and Technical Assistance on Competition Law and Policy
    UNITED NATIONS TD United Nations Distr. Conference GENERAL on Trade and TD/RBP/CONF.6/6 Development 5 September 2005 Original: ENGLISH/FRENCH/ SPANISH FIFTH UNITED NATIONS CONFERENCE TO REVIEW ALL ASPECTS OF THE SET OF MULTILATERALLY AGREED EQUITABLE PRINCIPLES AND RULES FOR THE CONTROL OF RESTRICTIVE BUSINESS PRACTICES Antayla, 14-18 November 2005 Item 6 (a) of the provisional agenda REVIEW OF CAPACITY-BUILDING AND TECHNICAL ASSISTANCE ON COMPETITION LAW AND POLICY Note by the UNCTAD secretariat Executive summary UNCTAD provides capacity-building and technical assistance on competition law and policy to developing and least developed countries as well as countries in transition in accordance with requests received, the needs of the countries concerned and resources available. This includes both national and regional assistance in drafting competition laws and policy guidelines as well as capacity-building in the implementation of competition policy with a long-term perspective in line with the United Nations Set of Multilaterally Agreed Equitable Principles and Rules for the Control of Restrictive Business Practices and the requests made by the Fourth United Nations Conference to Review All Aspects of the Set. Accordingly, this document contains a progress report on the capacity-building and technical cooperation activities of the UNCTAD secretariat, which are described under three main subheadings, namely national activities, regional and subregional activities, and participation in seminars and conferences. In addition, it contains extracts from replies of member States and international organizations to the note by the Officer-in-Charge of UNCTAD requesting information on technical cooperation activities in the field of competition law and policy.
    [Show full text]