Fiscal positions of African countries have improved significantly during the past decade. Higher economic growth, better terms of trade, improved donor support notably through debt relief and better control of expenditure contributed to this improvement. But at the same time government revenue...

This paper investigates the macroeconomic challenges created by a surge in aid inflows. It develops an analytical framework for examining possible policy responses to increased aid, in terms of absorption and spending of aid - where the central bank controls absorption through monetary policy...

This paper surveys the pros and cons of Central Bank Independence and how it could help set developing economies on the path of steady growth. The research develops a theoretical framework for the analysis of central bank independence in budding democracies. The recent trend in Macro- Economic...