Regional Economic Outlook: Sub-Saharan Africa, April 2010 -- Table of Contents

Sub-Saharan Africa, April 23, 2010

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Regional Economic Outlook: Sub-Saharan Africa, April 2010 -- Table of Contents

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Bibliographic details

• Published: April 23, 2010
• Series: Sub-Saharan Africa

Executive summary and outlook

• The economic slowdown in sub-Saharan Africa "looks set to be mercifully brief."
• "Recovery is now under way across the region."
• The region's relative resilience during this global recession owed much to:
  • the health of its economies, and
  • the strengthening of policy frameworks in the run-up to the crisis.
• "Countercyclical macroeconomic policies played an important role, with nearly two-thirds of those sub-Saharan Africa countries that experienced a slowdown in 2009 increasing government spending to buttress economic activity."
• However, "progress toward the Millennium Development Goals receded."
• Impact by country group:
  • "Middle-income and oil-exporting countries were hit hardest by the collapse in world trade and commodity markets."
  • "The region’s low-income countries escaped fairly lightly."
• Forward-looking policy priorities:
  • "Fiscal policies in sub-Saharan Africa generally need to be refocused toward medium-term objectives."
  • "Macroeconomic policy buffers [need to be] rebuilt."
  • "Financial systems [need to be] strengthened."
• Publication cadence: "Published biannually in May and October."

Press and dissemination

• Multimedia and outreach items listed on the landing page:
  • "Watch a video by Antoinette Sayeh about the Outlook"
  • "Press Briefing: Sub-Saharan Africa Regional Economic Outlook April 23, 2010 Webcast | Transcript"
  • "Press Release: IMF Outlook for Sub-Saharan Africa Is Optimistic about Growth Prospects"
  • "Manipulate, graph, and download data from this report using IMF Data Mapper®"
  • "Sub-Saharan Africa Typology of Countries"
  • "Other Regional Economic Outlooks"
  • "World Economic Outlook, April 2010"
  • "Email notification sign-up"

Major report structure (chapters and themes)

• Preface; Abbreviations; Main Findings
• Chapter 1: "Back to High Growth?"
  • Sections: Introduction and Summary; A Differentiated Picture in 2009; The Turning Point; 2010 and Beyond; Policy Implications; Minimizing Financial Shocks
• Chapter 2: "How Countercyclical and Pro-Poor Has Fiscal Policy Been during the Downturn?"
  • Sections: Has Fiscal Policy Been Countercyclical?; How Did Public Investment and Social Spending Fare during the Crisis?
• Chapter 3: "Private External Financing Flows and the Global Financial Crisis"
  • Sections: International Financial Integration and Developing Countries; The Pattern of Private Financing Flows during the Crisis; Policies to Manage Capital Inflows—Avoiding Hard Landings; Policies to Attract Private Capital Flows; Statistical Appendix; References
• Supplementary material:
  • "Publications of the IMF African Department, 2009–2010"
  • Boxes, Tables, and Figures enumerating empirical evidence and country/region breakdowns

Boxes (selected thematic interventions)

• 2.1. "Characterizing Fiscal Policy Responses—A Simplified Approach"
• 2.2. "Fiscal Policy Implementation in Africa"
• 2.3. "Social Protection and Promotion Programs in Sub-Saharan Africa"
• 3.1. "South Africa, Africa’s Largest Capital Market"
• 3.2. "The Emergence of Sub-Saharan African Stock Markets"
• 3.3. "Official Aid during the Global Economic Crisis"
• 3.4. "Consistent Winners and Losers in the Competition for Investment Inflows"
• 3.5. "Attracting and Reaping the Benefits of FDI in Sub-Saharan Africa"

Key tables and metrics (inventory highlights)

• Tables comparing periods and fiscal outcomes:
  • "Sub-Saharan Africa: Change in Key Indicators Between 2004–08 and 2009"
  • "Sub-Saharan Africa: 2009 Budget Plans vs. 2003–07 Average"
  • "Sub-Saharan Africa: Median Real Primary Spending Growth, Budget Plans, 2008–2009 vs. 2003–07 Average"
  • "Sub-Saharan Africa: 2009 Budget Outturns vs. 2003–07 Average"
  • "Sub-Saharan Africa: Median Capital and Health and Education Expenditure, 2003–09"
  • "Sub-Saharan Africa: Gross Financial Inflows, 2002–09"
  • "Sub-Saharan Africa: Average Correlation between Gross Private and Official Inflows over the 2002–09 Cycle"

Figures and visual evidence (selected)

• Regional and country-level growth, fiscal, and external accounts:
  • "Sub-Saharan Africa and World: GDP Growth"
  • "Sub-Saharan Africa: GDP Growth by Country, 2009"
  • "Sub-Saharan Africa: GDP Growth Deceleration in 2009 vs. Export Ratios"
  • "Sub-Saharan Africa: GDP Growth in 2004–08 and 2009 by Country Groups"
  • "Sub-Saharan Africa: Contributions to GDP Growth"
  • "Sub-Saharan Africa: Current Account Balance by Country Groups"
  • "Sub-Saharan Africa: Fiscal Balance by Country Groups"
  • "Sub-Saharan Africa: Real Effective Exchange Rates by Country Groups"
  • "Sub-Saharan Africa: High-Frequency Macroeconomic Indicators"
  • "Sub-Saharan Africa: Sharing in World Recovery"
  • "World: Contributions to GDP Growth"
  • "Sub-Saharan Africa: Exports by Destination"
  • "Sub-Saharan Africa and World: Change in Private Investment-to-GDP Ratios between 2003–07 and 2009"
  • "Sub-Saharan Africa: Primary Balance vs. Debt-Stabilizing Primary Balance, 2007, 2009, and 2011"
  • "Sub-Saharan Africa: GDP Growth, 2004–08 vs. 2010–12"
  • "Sub-Saharan Africa: Projections Made in Spring 2008, 2009, and 2010"
  • "Sub-Saharan Africa: IMF Lending Commitments, 2007–09"
  • "Sub-Saharan Africa: Projected Growth Gaps"

Data and empirical appendices

• Statistical and empirical appendices cover:
  • Volume and composition of private financial flows to emerging and developing countries
  • The private financing cycle in Sub-Saharan Africa
  • Elasticities of gross private inflows during the expansion of 2002–07
  • Composition and concentration of private financial flows (including Excluding South Africa)
  • International sovereign bond issuance by Sub-Saharan Africa, 2000–09
  • Sovereign ratings and indicators of access to international capital markets
  • Terms of trade and financial shocks for oil and non-oil exporters
  • Remittance flows, 2008–09
  • Exchange market pressure and selected macroeconomic policy indicators
  • Postcrisis GDP growth deceleration and selected policy indicators during the precrisis capital inflow period

Content in this bundle

• Sreo0410fpdf (PDF)
• Sreo0410f (PDF)
• Sreo0410mmpdf (PDF)
• Sreo0410pdf (PDF)

References

• http://www.imf.org/external/mmedia/view.asp?eventID=1811
• Watch a video by Antoinette Sayeh about the Outlook
• Webcast
• Transcript
• Press Release:
• IMF Data Mapper®
• Typology of Countries
• Regional Economic Outlooks
• World Economic Outlook
• Ordering Information
• Disclaimer
• Adobe Acrobat Reader
• https://www.imf.org/en/home