Front Matter

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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