Regional Economic Outlook: Sub-Saharan Africa, April 2011 -- Table of Contents
Sub-Saharan Africa, May 3, 2011
Source details
- Canonical URL
- Regional Economic Outlook: Sub-Saharan Africa, April 2011 -- Table of Contents
Other formats
Bibliographic details
- Published: May 3, 2011
- Series: Sub-Saharan Africa
Executive summary and main findings
- Sub-Saharan Africa's economic recovery is well under way, with variation in the speed of recovery across country groups.
- In most of the region's low-income countries and among the seven oil exporters growth is almost back to precrisis levels.
- In the region's middle-income countries, including South Africa, the recovery has been more gradual.
- Recent economic developments highlighted:
- Sharp increases in food and fuel prices will need fiscal interventions targeting the poor.
- Higher oil prices will be a boon to some countries and adversely affect others.
- Policy prescription: move away from the supportive stance of the last few years, but balance adjustments against the need to alleviate the impact of rising food prices on poor households.
Contents and chapter focuses
- Preface; Abbreviations; Main Findings
- 1. Introduction and Summary
- How and Where Has Output Recovered from the Impact of the Crisis?
- Has Fiscal Policy Started to Pay Heed to the Recovery?
- What Are the Implications of the Resurgence in Food and Fuel Prices?
- Policy Priorities Going Forward
- 2. Capital Inflows to Frontier Markets in Sub-Saharan Africa
- The Nature and Volume of Flows to Sub-Saharan African Frontier Markets in a Global Context
- Other Private Flows to Frontier Markets
- How Different Is the Recent Experience of Sub-Saharan Africa’s Frontier Markets?
- Long-Term Determinants of Private External Financing in Sub-Saharan Africa
- Policy Recommendations
- 3. The East African Community: Taking Off?
- The EAC Growth Experience
- How Does the East African Community Compare with Other Fast Growers? Benchmarking East African Community Growth
- New Challenges and New Opportunities
- Statistical Appendix; References; Publications of the IMF African Department, 2009–2011
Targeted policy recommendations (from chapters)
- Fiscal: implement fiscal interventions targeting the poor to offset sharp food and fuel price increases.
- Macroeconomic stance: begin policy adjustments away from supportive measures of recent years while cushioning poor households from food-price shocks.
- Capital flow management: assess the nature and volume of private flows to frontier markets; tailor policy recommendations to manage volatility and long-term financing determinants.
- Regional integration and structural policy (EAC): address new challenges and opportunities to sustain growth and deepen regional markets.
Scenario analysis and special topics highlighted
- An Adverse Oil Shock Scenario (Box 1.3)
- Frontier markets characterization and risks (Boxes 2.1–2.3)
- East African Community integration, market deepening, and sectoral issues (Boxes 3.1–3.6)
- Kenya: Mobile Money and Financial Sector Deepening (Box 3.3)
Empirical material, indicators, and data coverage
- Time series and cross-country tables and figures covering periods such as:
- 2004–12, 2004–11, 2005–09, 2000–12, 1991–2009, 2009, 2010, 2005:Q1–2010:Q3
- Key tables and datasets listed:
- Sub-Saharan Africa: Macroeconomic Aggregates, 2004–12
- Sub-Saharan Africa: Contributions to Real GDP Growth, 2004–11
- Developments in Private Capital Flows during 2010
- Factors in Attracting Private Capital Inflows
- Formal Evidence on Determinants of Capital Inflows
- Comparison of Key Indicators, 2009; Current Macroeconomic Indicators; Top 20 Fastest-Growing Economies in 2005–09
- Figures and charts include, among others:
- Sub-Saharan Africa: Trends in Output among Low-Income and Oil-Exporting Countries
- Sub-Saharan Africa: Trends in Output among Middle-Income Countries
- Changes in Inflation and Policy Rates
- Sub-Saharan Africa: Broad Money and Private Sector Credit Growth, December 2005–September 2010
- Nominal Effective Exchange Rate Change, January 2009 versus January 2011
- Sub-Saharan Africa: External Account Indicators
- World Commodity Price Index; Sub-Saharan Africa: Food Inflation Rate; Relationship between Domestic and International Food Prices
- Trade Balance Effects of Commodity Price Changes in 2011
- Private vs. Official Financing to Sub-Saharan African Countries; Net Private Capital Flows to Emerging and Developing Economies; Net Private Capital Flows to Sub-Saharan African Countries
- Sub-Saharan Africa Frontier Markets: Portfolio Investments; Sub-Saharan Africa Frontier Markets: External Bond Issuance
- Cumulative Growth in Real per Capita GDP; Inflation since Growth Turnaround; East African Community: Macroeconomic Stabilization; Total Factor Productivity; Exports since Growth Turnaround; Export Concentration; Business Environment; Investment and Savings; Financial Deepening; Private and Official Flows to the East African Community; Exchange Rate Volatility
Annexes, references and supporting material
- Statistical Appendix; References; Publications of the IMF African Department, 2009–2011
- Multiple boxes, tables, and figures provide country examples, empirical evidence, and diagnostics across the region and for the East African Community.
Regional Economic Outlook: Sub-Saharan Africa, April 2011 -- Table of Contents