Effect of Fiscal Austerity on African Food Imports

摘要

Export earnings and credit are the key economic factors that will affect African countries' ability to import food, according to this econometric analysis. Projections for 1994 indicate that the region's low-income countries would suffer the most from any declines in export earnings or credit. Choices between food and raw materials imports would favor food, hurting the economies of import-dependent countries in the long term. A continuing pattern of credit withdrawal from these developing nations would spell reduced trade for the world's food-exporting nations.