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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