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The Least Developed Countries Report 1997

image of The Least Developed Countries Report 1997

Intended for a broad readership of governments, policy makers, researchers and all those involved with the least developed countries (LDCs) and development policy, this in-depth Report examines economic developments in the LDCs during 1996 and discusses prospects for 1997. It's coverage also includes an examination of: LDCs' external debt; recent economic reforms and performance; agricultural developments and policy reforms; and economies in regress. A statistical annex of basic data is also included.

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Overview

Important, and on balance encouraging, developments have taken place among the least developed countries in the mid-1990s. The determined efforts to implement economic policy reforms have led to improved economic performance in about half of the LDCs. The economic revival is most notable in Africa, where economic growth rates have risen to levels that, on average, involve modest increases in per capita output. Macroeconomic reforms, particularly exchange rate reforms, have played an important role in stimulating higher growth rates in many LDCs. Economic improvement has taken place despite the continued stagnation of aid flows to LDCs and the persistence of their external debt problems. Reduction of the external debt burden, together with an increase in aid flows, would provide strong support for the economic reforms currently underway in LDCs, and help ensure that the current revival is sustained. The recent economic performance of the LDCs and developments in external financing are reviewed in Part One of this Report.

English

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