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Financing Human Development in Africa, Asia and the Middle East

image of Financing Human Development in Africa, Asia and the Middle East
This book assesses feasible financing strategies for policymakers to follow in pursuance of human development, taking as reference the United Nations' Millennium Development Goals (MDGs) and their achievement by 2015. These strategies are analyzed in the context of broader concerns of economic development with special reference to nine countries from Africa, Asia and the Middle East; that is, how to make macroeconomic policies support more effectively sustained growth while reducing widespread poverty and inequalities and other human development gaps in low- and middle-income countries, especially in times of global economic crises or external shocks. In this sense, this book adds new evidence regarding the social deficits in these countries and suggests policy options to overcome them.

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South Africa

After successful free elections in April 1994, South Africa was readmitted to the international community, following years of international isolation imposed on the country due to its racially motivated apartheid policies. Since then, trade liberalization has been accompanied by responsible monetary and fiscal management, and South Africa has continuously recorded moderate economic growth. Inflation has been within target, and the budget deficit has been falling in recent years. The government has also channelled an important amount of resources to social programs and services. Yet despite bold policy changes, the economy has failed to grow in sufficient amounts to make inroads into high unemployment and poverty (Hoogeveen and Özler, 2005).

English

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