Front Matter

Front Matter

Author(s):
International Monetary Fund
Published Date:
October 2015
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    World Economic and Financial Surveys

    Regional Economic Outlook

    Sub-Saharan Africa Dealing with the Gathering Clouds

    OCT 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)

    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: 978-1-51359-733-1 (paper)

    ISBN-13: 978-1-51358-600-7 (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

    ASEAN

    Southeast Asian Nations

    CEMAC

    Economic and Monetary Community of Central Africa

    CFA

    currency zone of CEMAC and WAEMU

    CGER

    Consultative Group on Exchange Rate Issues

    CIS

    Commonwealth of Independent States

    CPI

    consumer price index

    EAC

    East African Community

    EBA

    External Balance Assessment

    FDI

    foreign direct investment

    GII

    the United Nation’s gender inequality index

    GDP

    gross domestic product

    GVC

    global value chain

    ICP

    International Comparison Program

    IDB

    Inter-American Development Bank

    IMF

    International Monetary Fund

    INS

    Information Notice System

    LICs

    low-income countries

    LAC

    Latin America and Carribean region

    MENA

    Middle East and North Africa region

    MICs

    middle-income countries

    NPLs

    nonperforming loans

    PWT

    Penn World Tables

    QM

    The Import Average Relative Price

    QX

    The Export Average Relative Price

    REER

    real effective exchange rate

    REO

    Regional Economic Outlook

    ROA

    return on asset

    SDGs

    Sustainable Development Goals

    SSA

    Sub-Saharan Africa

    SWIID

    The Standardized World Income Inequality Database

    VAT

    value-added tax

    WAEMU

    West African Economic and Monetary Union

    WBL

    World Bank’s Women, Business and the Law database

    WEF

    World Economic Forum

    WEO

    World Economic Outlook

    Acknowledgments

    This October 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, Christine Dieterich, Emily Forrest, Jesus Gonzalez-Garcia, Cleary Haines, Dalia Hakura, Anni Huang, Mumtaz Hussain, Naresh Kumar, Azanaw Mengistu, Clara Mira, Joannes Mongardini, Bhaswar Mukhopadhyay, Monique Newiak, Marco Pani, Shane Radick, Francisco Roch, George Rooney, Magnus Saxegaard, Vimal Thakoor, Alun Thomas, Juan Treviño, Fan Yang, and Mustafa Yenice.

    Specific contributions were made by Tidiane Kinda, Montfort Mlachila, and Rasmané Ouedraogo.

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

    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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