Determinants Of Non Oil Growth In The Cfa Zone Oil Producing Countries
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| Author | : Ms.Alexandra Tabova |
| Publisher | : International Monetary Fund |
| Total Pages | : 22 |
| Release | : 2011-10-01 |
| Genre | : Business & Economics |
| ISBN | : 1463921993 |
Non-oil growth in the CFA oil exporting countries has been lackluster despite their great natural resource wealth. In this paper we study the key determinants of non-oil growth and explore to what extent these countries differ from countries with comparable levels of development that do not depend on nonrenewable resources. Using a panel of 38 countries comprising LICs and CFA zone oil exporters, we find that while real exchange rate appreciation negatively impacted growth in all countries over the period 1985-2008, what distinguishes the oil producers of the CFA zone is the failure of public and private investment to spur non-oil growth.
| Author | : Céline Allard |
| Publisher | : International Monetary Fund |
| Total Pages | : 122 |
| Release | : 2017-05-09 |
| Genre | : Business & Economics |
| ISBN | : 1475574932 |
Growth momentum in sub-Saharan Africa remains fragile, marking a break from the rapid expansion witnessed since the turn of the millennium. 2016 was a difficult year for many countries, with regional growth dipping to 1.4 percent—the lowest level of growth in more than two decades. Most oil exporters were in recession, and conditions in other resource-intensive countries remained difficult. Other nonresource-intensive countries however, continued to grow robustly. A modest recovery in growth of about 2.6 percent is expected in 2017, but this falls short of past trends and is too low to put sub-Saharan Africa back on a path of rising living standards. While sub-Saharan Africa remains a region with tremendous growth potential, the deterioration in the overall outlook partly reflects insufficient policy adjustment. In that context, and to reap this potential, strong and sound domestic policy measures are needed to restart the growth engine.
| Author | : International Monetary Fund. African Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 115 |
| Release | : 2013-05-22 |
| Genre | : Business & Economics |
| ISBN | : 1484353943 |
Growth remained strong in the region in 2012, with regional GDP rates increasing in most countries (excluding Nigeria and South Africa). Projections point to a moderate, broad-based acceleration in growth to around 51⁄2 percent in 2013¬14, reflecting a gradually strengthening global economy and robust domestic demand. Investment in export-oriented sectors remains an important economic driver, and an agriculture rebound in drought-affected areas will also help growth. Uncertainties in the global economy are the main risk to the region’s outlook, but plausible adverse shocks would likely not have a large effect on the region’s overall performance.
| Author | : Mr.Bernardin Akitoby |
| Publisher | : International Monetary Fund |
| Total Pages | : 249 |
| Release | : 2012-08-16 |
| Genre | : Business & Economics |
| ISBN | : 1616353767 |
Despite its vast oil wealth, central Africa still struggles to sustain strong, inclusive economic growth and to generate sufficient employment opportunities, particularly for its fast-growing youth population. Drawing on new research, Oil Wealth in Central Africa lays out the macroeconomic and growth challenges facing the region; examines oil wealth management and its implications for poverty reduction; and includes four case studies that exemplify lessons learned.
| Author | : International Monetary Fund |
| Publisher | : International Monetary Fund |
| Total Pages | : 67 |
| Release | : 2011-11-23 |
| Genre | : Business & Economics |
| ISBN | : 1463925301 |
Member countries of the Central African Economic and Monetary Community are recovering from the global financial crisis, although growth in 2011 has not returned to precrisis levels. Executive Directors welcomed the region’s economic recovery from the global financial crisis and its overall positive outlook. Directors noted, however, that the recovery has been uneven across member countries and that inflation is on the rise owing to high international food and fuel prices. Directors encouraged the authorities to adopt an appropriate policy mix to contain inflationary pressures in the short term.
| Author | : International Monetary Fund. African Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 121 |
| Release | : 2015-04-28 |
| Genre | : Social Science |
| ISBN | : 1475595395 |
The sharp decline in oil and other commodity prices have adversely impacted sub-Saharan Africa. Nevertheless, the region is projected to register another year of solid economic performance. In South Africa, however, growth is expected to remain lackluster, while in Guinea, Liberia, and Sierra Leone the Ebola outbreak continues to exact a heavy economic and social toll. This report also considers how sub-Saharan Africa can harness the demographic dividend from an unprecedented increase in the working age population, as well as the strength of the region's integration into global value chains.
| Author | : International Monetary Fund. African Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 137 |
| Release | : 2016-05-03 |
| Genre | : Business & Economics |
| ISBN | : 1484309618 |
Economic growth in sub-Saharan Africa as a whole has fallen to its lowest level in 15 years, though with large variation among countries in the region. The sharp decline in commodity prices has severely strained many of the largest economies, including oil exporters Angola and Nigeria, and other commodity exporters, such as Ghana, South Africa, and Zambia. At the same time, the decline in oil prices has helped other countries continue to show robust growth, including Kenya and Senegal. A strong policy response to the terms-of-trade shocks is critical and urgent in many countries. This report also examines sub-Saharan Africa’s vulnerability to commodity price shocks, and documents the substantial progress made in financial develop, especially financial services based on mobile technologies.
| Author | : International Monetary Fund |
| Publisher | : International Monetary Fund |
| Total Pages | : 110 |
| Release | : 2014-10-20 |
| Genre | : Business & Economics |
| ISBN | : 1498307779 |
Growth in much of Sub-Saharan Africa is expected to remain strong, driven by efforts to invest in infrastructure and strong agricultural production. The current Ebola outbreak in Guinea, Liberia, and Sierra Leone is exacting a heavy toll, with spillovers to neighboring countries. External threats to the region's overall positive outlook include global financial conditions and a slowdown in emerging market growth.
| Author | : International Monetary Fund |
| Publisher | : International Monetary Fund |
| Total Pages | : 114 |
| Release | : 2014-04-24 |
| Genre | : Business & Economics |
| ISBN | : 1484342887 |
The five Regional Economic Outlooks published biannually by the IMF cover Asia and Pacific, Europe, the Middle East and Central Asia, Sub-Saharan Africa, and the Western Hemisphere. In each volume, recent economic developments and prospects for the region are discussed as a whole, as well as for specific countries. The reports include key data for countries in the region. Each report focuses on policy developments that have affected economic performance in the region, and discusses key challenges faced by policymakers. The near-term outlook, key risks, and their related policy challenges are analyzed throughout the reports, and current issues are explored, such as when and how to withdraw public interventions in financial systems globally while maintaining a still-fragile economic recovery.These indispensable surveys are the product of comprehensive intradepartmental reviews of economic developments that draw primarily on information the IMF staff gathers through consultation with member countries.
| Author | : International Monetary Fund. African Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 140 |
| Release | : 2016-10-25 |
| Genre | : Business & Economics |
| ISBN | : 1513595970 |
Economic growth in sub-Saharan Africa this year is set to drop to its lowest level in more than 20 years, reflecting the adverse external environment, and a lackluster policy response in many countries. However, the aggregate picture is one of multispeed growth: while most of non-resource-intensive countries—half of the countries in the region—continue to perform well, as they benefit from lower oil prices, an improved business environment, and continued strong infrastructure investment, most commodity exporters are under severe economic strains. This is particularly the case for oil exporters whose near-term prospects have worsened significantly in recent months. Sub-Saharan Africa remains a region of immense economic potential, but policy adjustment in the hardest-hit countries needs to be enacted promptly to allow for a growth rebound.
