Southern African Development Community's Macroeconomic Convergence Program: Initial Performance Synopsis
The Southern African Development Community's (SADC) regional economic integration agenda includes a macroeconomic convergence program that is intended to achieve and maintain macroeconomic stability in the region, thereby contributing to faster economic growth and laying the basis for eventual monetary union. Most of the SADC members recorded solid macroeconomic performance, except Zimbabwe, which recorded hyperinflation. Looking ahead, the program calls for member countries to achieve an output growth of 7 percent and to peg inflation at 5 percent.
