ditions and performance of Africa in 1982. The aeneral decline in economic activity, noticeallle already in 1980, has not only persisted but v1orsened, resultinq in a neqative GDP qro\vth rate cf 1.4 per cent and a host of other problems, cf v'hich the exter­ nal payments imbala nee is the most serious. ~~he causes of the continuinq economic deterioration are to be found both in inter­ nal African conditions -cl irna te, structural ccnstra i nts, sene qovernment policies which are far from conducive to savinq, in­ vestment and production- and in the serious inpact of the reces­ sion in industrialized countries on Africa's econcmy. 4. The African economies, beinq export-oriented, have been particularly hard-hit by the recession in the· industriali:zed countries. Export revenues have fallen drast.ica: ly, not only in the non-oil-exportinq African countries whi ~h "epend on tradi­ tion?! pr:ima ry commodities, but also in th(~ oil-exportinq countries, causinq a drastic fall in public re··enue a1•d severe cut-backs in public spendinq. For some mont 1s <1urinq the year, quite a fE:W African Governments had difficu· tif.s in payinq the salaries and waqes of their public servants. Th( fall :in demand fer and prices of Africa's export commodities, includinq miner<Jls and petroleum products, also affected imr::-rtt· esse:·tial to development, particularly spare parts a •1d inrlust--ial raw materials, leadinq to excess industrial capacity simul .aneously with a sea rcity of finished products. The le•Jel of re!" .~rves fer most African countries has fallen to its lCl\'1est ever, 1mountinQ to less than one month's imports in 1982. Wi ·_h hiqh interest rates in noney markets and limited supplies of non-ccncessional 3 E/ECA/CM.9/5 funds, African countries have increasinqly turned to IMF, drawinq credits worth SDR 4.2 billion by Auqust· 1982. The downward pres­ sure on demand and prices has been especially stronq for oil, a 