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International Monetary Fund. African Dept.

Abstract

This chapter was prepared by a team led by Seung Mo Choi and comprising Michael Gorbanyov, Cleary Haines, Siddharth Kothari, Andresa Lagerborg, Nkunde Mwase, Malika Pant, and Torsten Wezel, under the supervision of Papa N’Diaye and Catriona Purfield.

International Monetary Fund. African Dept.

Abstract

This year looks set to be another encouraging one for most sub-Saharan African economies. Reflecting mainly strong domestic demand but also elevated commodity prices, the region’s economy is set to expand by 5¼ percent in 2011. For 2012, our baseline projection is for growth to be higher at 5¾ percent, owing to one-off boosts to production in a number of countries.

International Monetary Fund. African Dept.

Abstract

The intrinsic links between climate change and the COVID-19 pandemic have elevated global calls for policymakers to take immediate action on both fronts. Fiscal stimulus supporting recovery from the pandemic can be designed to simultaneously address climate change. In turn, this could help reduce the spread of future pandemics as climate change is a threat multiplier for pandemics. Destruction of the environment and biodiversity makes pandemics more likely while pollution and other man-made factors driving climate change weaken the health of human beings, raising their vulnerability to viruses and other diseases.

International Monetary Fund. African Dept.

Abstract

This chapter was prepared by a team led by Jesus Gonzalez-Garcia and comprising Reda Cherif, Sandesh Dhungana, Xiangming Fang, Miguel Pereira Mendes, Yuanchen Yang, Mustafa Yenice, and Jung Eun Yoon, under the supervision of Mahvash Qureshi and David Robinson.

International Monetary Fund. African Dept.

Abstract

This chapter focuses on the apparent disconnect between recent growth and poverty outcomes in sub-Saharan Africa:

International Monetary Fund. African Dept.

Abstract

Every second, the region has averaged 106 new internet users.1 This fast-paced digital revolution holds the promise of transforming economies and people’s lives. It takes on added importance as countries across the region grapple with the unprecedented health and socio-economic fallout of the COVID-19 pandemic. All policy levers are being deployed to protect lives and livelihoods. Digital solutions have helped to provide more resilience and allowed for rapid, flexible, and inclusive policy responses to the pandemic.

International Monetary Fund. African Dept.

Abstract

This chapter was prepared by a team coordinated by Samuel Delepierre, Alexander Massara, and David Stenzel, composed of Moez Ben Hassine, Krisztina Fabo, Hoda Selim, and Martha Woldemichael, with input from Jean Portier and Samuele Rosa and research assistance from Yanki Kalfa, under the supervision of Said Bakhache and Catriona Purfield.

International Monetary Fund. African Dept.

Abstract

During the past decade, sub-Saharan African countries have increasingly started exploiting new markets, marking what seems to be a historic reorientation of their trade and investment toward new partners, including those within the region (as defined in Appendix I). Very importantly, this reorientation has largely occurred through trade creation rather than trade diversion, as engagement with traditional partners has continued to grow in recent years, though at a slower pace than that with new partners. The broad aims of this chapter are to shed light on the extent of this reorientation, what it implies for sub-Saharan African countries, and the opportunities and challenges it poses.

International Monetary Fund. African Dept.

Abstract

Growth performance in sub-Saharan Africa (SSA) remains buoyant in a wide range of countries despite a continued worsening of the terms of trade of the oil importers.1 Against a background of an easing of demand for imports in advanced countries, average real GDP growth is now expected to decline slightly in 2005 from its strong performance in 2004. The slowdown in 2005, however, is attributable primarily to lower growth in most of the oil-producing countries following the exceptional increases in oil-production capacity established during 2003 and 2004, especially in Nigeria; non-oil-producing countries are expecting average growth of about 4.5 percent, similar to that observed in 2004. Nonetheless, the number of countries anticipated to achieve growth in excess of 5 percent is expected to increase, while the number growing by less than 2 percent is expected to decline. Real GDP growth in SSA is projected to rebound to 5.3 percent in 2006. Growth in SSA, however, remains below the levels observed in other developing country regions and is still insufficient for most countries to achieve the income-poverty Millennium Development Goal (MDG).