{
  "title": "Regional Economic Outlook: Sub-Saharan Africa, April 2008 -- Table of Contents",
  "publication": "Sub-Saharan Africa, April 12, 2008",
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  "summary": "The region's prospects continue to be promising, but global developments pose increased risks to the outlook. Growth in sub-Saharan Africa should again average about 6½ percent in 2008 with oil exporters leading the way; meanwhile, growth in oil importers is expected to taper off, though only modestly. With food and energy prices still rising, inflation is projected to average about 8½ percent this year for countries in the region, setting aside Zimbabwe. Risks in 2008 are tilted to the downside, but the region is better placed today to withstand a worsening of the global environment.",
  "publishDate": "2008-04-12",
  "series": "Sub-Saharan Africa",
  "sections": [
    {
      "heading": "Executive summary and headline outlook",
      "content": "- Growth in sub-Saharan Africa should again average about 6½ percent in 2008 with oil exporters leading the way; growth in oil importers is expected to taper off, though only modestly.\n- Inflation is projected to average about 8½ percent this year for countries in the region, setting aside Zimbabwe.\n- The region's prospects continue to be promising, but global developments pose increased risks to the outlook.\n- Risks in 2008 are tilted to the downside, but the region is better placed today to withstand a worsening of the global environment.\n- Executive Summary also available in Português.\n- Press Release: April 12, 2008; Transcript: Press Briefing on the Sub-Saharan Africa Regional Economic Outlook, April 12, 2008."
    },
    {
      "heading": "I. Overview (structure and themes)",
      "content": "- Main Developments in 2007\n- Macroeconomic Policies\n- Outlook for 2008 and Risks\n- Medium-Term Challenges: Unleashing the Private Sector and Reducing the Cost of Doing Business\n- Appendix 1.1"
    },
    {
      "heading": "II. Monetary and exchange rate policies",
      "content": "- The Monetary and Exchange Rate Landscape\n- Policy Challenges of Implementing Monetary and Exchange Rate Regimes in Sub-Saharan Africa\n- Conclusions\n- Boxes relevant to monetary policy include:\n  - 2.1. Inflation Objectives for Sub-Saharan African Low-Income Countries\n  - 2.2. The Monetary Transmission Mechanism in Sub-Saharan Africa\n  - 2.3. Assessing Reserve Money Targeting in Sub-Saharan Africa\n  - 2.4. The Role of Money\n  - 2.5. Mozambique and Uganda: Adding Flexibility to Monetary Policy\n  - 2.6. Inflation Targeting in Ghana\n  - 2.7. Inflation Targeting: A Benchmark for Monetary Policy in Managed Floats\n  - 2.8. Analytic Frameworks for Monetary Policy in Low-Income Countries"
    },
    {
      "heading": "III. Private capital flows",
      "content": "- Recent Trends in Capital Flows to Sub-Saharan African Countries\n- Factors Influencing Capital Flows in Sub-Saharan Africa\n- Evidence from Country Case Studies\n- Lessons and Policy Agenda for Sub-Saharan Africa\n- Appendix 3.1\n- Boxes related to capital flows:\n  - 3.1. Transition to Emerging Market Status: Where Does Africa Stand?\n  - 3.2. Domestic Determinants of Private Capital Inflows to Sub-Saharan African Countries\n  - 3.3. Are Capital Flows Good for Growth?\n  - 3.4. Recent Cross-Border Banking Investments\n  - 3.5. The Foreign Private Capital Capacity-Building Program\n- Tables and figures on capital flows and related indicators:\n  - Private Capital Flows' Volatility, 2000-07\n  - Private FDI and Portfolio Inflows and Capital Market Development\n  - Sub-Saharan Africa: Capital Inflows, 2000-07\n  - Sub-Saharan Africa: Capital Inflows, 2000-07 (Annual Averages)\n  - Sub-Saharan Africa: Total Private Capital Inflows, 2000-07\n  - Sequencing of Capital Account Liberalization\n  - 3.6. Selected Sub-Saharan African Countries: Composition of Capital Flows"
    },
    {
      "heading": "IV. Africa's power supply crisis",
      "content": "- Africa's Power Sector in International Perspective\n- Africa's Acute Power Problems\n- The Way Forward\n- Statistical Appendix covering power sector topics\n- Boxes related to power:\n  - 4.1. Introducing the Africa Infrastructure Country Diagnostic\n  - 4.2. Regional and Economic Effects of South Africa's Power Supply Crisis\n- Tables and figures related to power infrastructure and costs:\n  - Emergency Power Generation in Sub-Saharan Africa\n  - Private Participation Power Sector Transactions in Sub-Saharan Africa\n  - 4.3. Power Sector Expenditure\n  - 4.4. Annualized Power Sector Expenditure Requirements to 2015\n  - Evolution of Power Infrastructure in Sub-Saharan Africa Relative to Other Regions\n  - Electricity Prices and Consumption in Sub-Saharan Africa Relative to Other Regions\n  - Countries Affected by Acute Power Sector Crises in 2007\n  - Drivers of Operating Costs for Sub-Saharan African Power Systems\n  - 4.5. Electricity Costs and Revenues by Type of Power System (US$/kwh)\n  - 4.6. Average Power Sector Revenue and Various Cost Benchmarks\n  - 4.7. Electricity Service Coverage in Sub-Saharan Africa\n  - 4.8. Electricity Service Expenditure in Sub-Saharan Africa\n  - 4.9. Evaluation of Power Sector Reform\n  - 4.10. State-Owned Enterprise Governance Characteristics\n  - 4.11. Frequency Distribution of Power Sector Efficiency Indicators\n  - 4.12. Hidden Costs of Power Sector Inefficiency\n  - 4.13. Long-Term Trends in External Finance for the Sub-Saharan African Power Secto"
    },
    {
      "heading": "Statistical appendices, country groupings, and supporting material",
      "content": "- Sub-Saharan Africa: Country Groupings\n- Data and Conventions\n- List of Tables\n- References\n- Publications of the IMF African Department, 2004-08\n- Statistical tables and indicators include:\n  - Sub-Saharan Africa: Selected Indicators, 2003-08\n  - A1.1. Categorization of Sub-Saharan African Countries\n  - A1.2. Non-Oil Primary Fiscal Deficits, 2002-07\n  - De Jure Monetary Policy Frameworks in Sub-Saharan Africa\n  - A3.1. Controls on Portfolio Investments and FDI in Selected African Countries\n  - A3.2. Capital Account Liberalization Process in Case-Study Countries\n  - A3.3. Case Study Countries: Challenges and Policy Responses\n  - Emergency Power Generation in Sub-Saharan Africa\n  - Private Participation Power Sector Transactions in Sub-Saharan Africa\n  - 4.3. Power Sector Expenditure\n  - 4.4. Annualized Power Sector Expenditure Requirements to 2015"
    },
    {
      "heading": "Figures and indicators highlighted across the report",
      "content": "- Growth and related measures:\n  - A Comparison of Growth\n  - Growth in Sub-Saharan Africa\n  - Regional Dynamics of Growth\n  - Contribution to GDP Growth\n  - Growth Volatility\n  - Real Per Capita GDP Growth\n  - 1.7. Sub-Saharan Africa: Oil Exporters\n  - 1.8. Sub-Saharan Africa: Trading Gains (Losses)\n  - 1.25. Oil Prices and GDP Growth in Sub-Saharan Africa\n  - 1.26. Exports and Growth in Sub-Saharan Africas\n  - 1.27. Sub-Saharan Africa: Growth and Commodity Prices\n  - 1.28. Growth Prospects in Sub-Saharan Africa\n- Price and external indicators:\n  - 1.9. Inflation in Sub-Saharan Africa\n  - 1.10. Sub-Saharan Africa: External Current Account Balance\n  - 1.11. Commodity Prices in Sub-Saharan Africa\n  - 1.29. Sub-Saharan Africa: Reserve Coverage for Terms of Trade Shocks, 2007\n- Monetary, financial, and competitiveness indicators:\n  - 1.12. Three-Month Interbank Risks in Selected Emerging Market\n  - 1.13. Monetary Developments\n  - 1.14. Real Effective Exchange Rates in Sub-Saharan Africa\n  - 1.15. Real Effective Exchange Rates in the CEMAC and the WAEMU\n  - 1.16. Sub-Saharan Africa: Reserve Coverage\n  - 1.17. Credit to the Private Sector in Sub-Saharan Africa\n  - 1.18. Real Effective Exchange Rates in Sub-Saharan African Countries with a Floating Regime\n  - 1.19. CSub-Saharan Africa: 2007 Exchange Rate Adjustments and Current Account Balances\n  - 1.20. Central Government Revenues in Sub-Saharan Africa\n  - 1.21. CCentral Government Primary Expenditures in Sub-Saharan Africa\n  - 1.22. Central Government Social Spending in Sub-Saharan Africa\n  - 1.23. Low-Income Sub-Saharan Africa: Government Financing of Fiscal Deficits\n  - 1.24. Total Government Debt in Sub-Saharan Africa\n  - 1.30. Sub-Saharan Africa: Doing Business, 2007\n  - 1.31. Sub-Saharan Africa: Global Competitiveness Index, 2007\n  - 1.32. Sub-Saharan Africa: Governance Ranking, 2000-06\n  - Sub-Saharan Africa: Exchange Rate Distribution, 2005-07\n  - Sub-Saharan Africa: Capital Inflows, Current Account, and Reserves, 2000-07\n\nRegional Economic Outlook: Sub-Saharan Africa, April 2008 -- Table of Contents\n\n---\n\n Content in this bundle\n\n- Sreo0408exppdf (PDF){rel=\"external\" type=\"application/pdf\"}\n- Sreocsopdf (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\n References\n\n- Transcript\n- Press Release\n- IMF Data Mapper®\n- Typology of Countries\n- Regional Economic Outlooks\n- World Economic Outlook\n- https://www.imf.org/en/home\n\nSource: https://www.imf.org/en/publications/reo/ssa/issues/2017/01/07/regional-economic-outlook-sub-saharan-africa"
    }
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    "Published: April 12, 2008",
    "Series: Sub-Saharan Africa",
    "Growth in sub-Saharan Africa should again average about 6½ percent in 2008 with oil exporters leading the way; growth in oil importers is expected to taper off, though only modestly.",
    "Inflation is projected to average about 8½ percent this year for countries in the region, setting aside Zimbabwe.",
    "The region's prospects continue to be promising, but global developments pose increased risks to the outlook.",
    "Risks in 2008 are tilted to the downside, but the region is better placed today to withstand a worsening of the global environment.",
    "Executive Summary also available in Português.",
    "Press Release: April 12, 2008; Transcript: Press Briefing on the Sub-Saharan Africa Regional Economic Outlook, April 12, 2008.",
    "Main Developments in 2007",
    "Macroeconomic Policies",
    "Outlook for 2008 and Risks",
    "Medium-Term Challenges: Unleashing the Private Sector and Reducing the Cost of Doing Business",
    "Appendix 1.1",
    "The Monetary and Exchange Rate Landscape",
    "Policy Challenges of Implementing Monetary and Exchange Rate Regimes in Sub-Saharan Africa",
    "Conclusions",
    "Boxes relevant to monetary policy include:",
    "Recent Trends in Capital Flows to Sub-Saharan African Countries",
    "Factors Influencing Capital Flows in Sub-Saharan Africa",
    "Evidence from Country Case Studies",
    "Lessons and Policy Agenda for Sub-Saharan Africa",
    "Appendix 3.1",
    "Boxes related to capital flows:",
    "Tables and figures on capital flows and related indicators:",
    "Africa's Power Sector in International Perspective",
    "Africa's Acute Power Problems",
    "The Way Forward",
    "Statistical Appendix covering power sector topics",
    "Boxes related to power:",
    "Tables and figures related to power infrastructure and costs:",
    "Sub-Saharan Africa: Country Groupings",
    "Data and Conventions",
    "List of Tables",
    "References",
    "Publications of the IMF African Department, 2004-08",
    "Statistical tables and indicators include:",
    "Growth and related measures:",
    "Price and external indicators:",
    "Monetary, financial, and competitiveness indicators:",
    "[Sreo0408exppdf (PDF)](/-/media/websites/imf/imported-flagship-issues/external/portuguese/pubs/ft/reo/2008/afr/_sreo0408exppdf.pdf){rel=\"external\" type=\"application/pdf\"}",
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    "[Transcript](https://www.imf.org/external/np/tr/2008/tr080412b.htm)",
    "[Press Release](https://www.imf.org/external/np/sec/pr/2008/pr0886.htm)",
    "[IMF Data Mapper®](https://www.imf.org/external/datamapper/index.php?db=AFRREO)",
    "[Typology of Countries](https://www.imf.org/external/datamapper/afrreoreg.htm)",
    "[Regional Economic Outlooks](https://www.imf.org/external/pubs/ft/reo/reorepts.aspx)",
    "[World Economic Outlook](https://www.imf.org/external/pubs/ft/weo/2008/01/index.htm)",
    "[https://www.imf.org/en/home](https://www.imf.org/en/home)"
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