Front Matter

Author(s):
International Monetary Fund. African Dept.
Published Date:
April 2015
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    World Economic and Financial Surveys

    Regional Economic Outlook

    Sub-Saharan Africa

    Navigating Headwinds

    APR 15

    ©2015 International Monetary Fund

    Cataloging-in-Publication Data

    Regional economic outlook. Sub-Saharan Africa. — Washington, D.C.: International

    Monetary Fund, 2003–

    v. ; cm. — (World economic and financial surveys, 0258-7440)

    Twice a year.

    Began in 2003.

    Some issues have thematic titles.

    1. Economic forecasting — Africa, Sub-Saharan — Periodicals. 2. Africa, Sub-Saharan — Economic conditions — 1960 — Periodicals. 3. Economic development — Africa, Sub-Saharan — Periodicals. I. Title: Sub-Saharan Africa. II. International Monetary Fund. III. Series: World economic and financial surveys.

    HC800.A1 R445

    ISBN-13: 978-1-49832-984-2 (paper)

    ISBN-13: 978-1-47551-995-2 (Web PDF)

    The Regional Economic Outlook: Sub-Saharan Africa is published twice a year, in the spring and fall, to review developments in sub-Saharan Africa. Both projections and policy considerations are those of the IMF staff and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

    Publication orders may be placed online, by fax, or through the mail:

    International Monetary Fund, Publication Services

    P.O. Box 92780, Washington, DC 20090 (U.S.A.)

    Tel.: (202) 623-7430 Telefax: (202) 623-7201

    E-mail : publications@imf.org

    www.imf.org

    www.elibrary.imf.org

    Contents

    Abbreviations

    AfDB

    African Development Bank

    BRIC

    Brazil, Russia, India, and China

    BVMAC

    Bourse des Valeurs Mobilières d’Afrique Centrale

    BRVM

    Bourse régionale des valeurs Mobilières

    CEMAC

    Economic and Monetary Community of Central Africa

    COMESA

    Common Market for Eastern and Southern Africa

    DOTS

    Direction of Trade Statistics

    DVA

    Domestic value added

    EAC

    East African Community

    ECOWAS

    Community of West African States

    FAO

    Food and Agriculture Organization of the United Nations

    FDI

    Foreign direct investment

    FSGM

    Flexible System of Global Models

    FVA

    Foreign value added

    GDP

    Gross domestic product

    GVCs

    Global value chains

    IDB

    Inter-American Development Bank

    IMF

    International Monetary Fund

    IO

    Input output

    OECD

    Organisation for Economic Co-operation and Development

    OLS

    Ordinary least squares

    REO

    Regional Economic Outlook

    SACU

    Southern African Customs Union

    SADC

    Southern Africa Development Community

    SSA

    Sub-Saharan Africa

    SWAP

    Share of the working age population

    UMP

    Unconventional monetary policy

    UNCTAD

    United Nations Conference on Trade and Development

    WAEMU

    West African Economic and Monetary Union

    WAP

    Working age population

    WEO

    World Economic Outlook

    WFP

    World Food Programme of the United Nations

    WTO

    World Trade Organization

    Acknowledgments

    This April 2015 issue of the Regional Economic Outlook: Sub-Saharan Africa (REO) was prepared by a team led by Céline Allard under the direction of Abebe Aemro Selassie.

    The team included Rahul Anand, Jorge Iván Canales Kriljenko, Wenjie Chen, Paulo Drummond, Idan Elmelech, Richard Erlebach, Jesus Gonzalez-Garcia, Cleary Haines, Mumtaz Hussain, Emmanouil Kitsios, Bhaswar Mukhopadhyay, Marco Pani, Francisco Roch, George Rooney, Vimal Thakoor, Juan Treviño, and John Wakeman-Linn.

    Specific contributions were made by Derek Anderson, Sebastian Corales, Daniela Marchettini, Dirk Vaughn Muir, and Mauricio Villafuerte.

    Natasha Minges was responsible for document production, with typesetting assistance from Charlotte Vazquez. The editing and production were overseen by Joanne Creary Johnson of the Communications Department with assistance from Martha Bonilla.

    The following conventions are used in this publication:

    • In tables, a blank cell indicates “not applicable,” ellipsis points (…) indicate “not available,” and 0 or 0.0 indicates “zero” or “negligible.” Minor discrepancies between sums of constituent figures and totals are due to rounding.

    • An en dash (–) between years or months (for example, 2009–10 or January–June) indicates the years or months covered, including the beginning and ending years or months; a slash or virgule (/) between years or months (for example, 2005/06) indicates a fiscal or financial year, as does the abbreviation FY (for example, FY2006).

    • “Billion” means a thousand million; “trillion” means a thousand billion.

    • “Basis points” refer to hundredths of 1 percentage point (for example, 25 basis points are equivalent to ¼ of 1 percentage point).

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