Download or read book External Sustainability of Oil Producing Sub Saharan African Countries written by Ms.Misa Takebe and published by International Monetary Fund. This book was released on 2011-08-01 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the extensive empirical work carried out across the IMF on oil-producing sub-Saharan African (SSA) countries, the notion of "sustainability" is often directed toward fiscal policies, and, in particular, views on the "optimal" non-oil primary fiscal deficit. The bulk of this work does not, however, address external sustainability, which is a concern especially for those SSA oil producers operating under a fixed exchange rate regime. A couple of recent papers have extended the existing methodologies to assess external sustainability for some oil-producing countries but they do not focus on those in sub-Saharan Africa. In this paper, we bolster this empirical work by providing a range of estimates for the long-run external current external account balance for each of the SSA oil-producing countries, based on three widely used methodologies in the IMF. Our research strategy is to apply these models to the eight countries in the subregion - Angola, Cameroon, Chad, Côte d'Ivoire, Equatorial Guinea, Gabon, Nigeria, and the Republic of Congo - using similar simplifying assumptions so that we are using the same lens to view how they do and do not differ.
Download or read book External Sustainability of Oil Producing Sub Saharan African Countries written by Misa Takebe and published by . This book was released on 2014 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the extensive empirical work carried out across the IMF on oil-producing sub-Saharan African (SSA) countries, the notion of "sustainability" is often directed toward fiscal policies, and, in particular, views on the "optimal" non-oil primary fiscal deficit. The bulk of this work does not, however, address external sustainability, which is a concern especially for those SSA oil producers operating under a fixed exchange rate regime. A couple of recent papers have extended the existing methodologies to assess external sustainability for some oil-producing countries but they do not focus on those in sub-Saharan Africa. In this paper, we bolster this empirical work by providing a range of estimates for the long-run external current external account balance for each of the SSA oil-producing countries, based on three widely used methodologies in the IMF. Our research strategy is to apply these models to the eight countries in the subregion - Angola, Cameroon, Chad, Côte d'Ivoire, Equatorial Guinea, Gabon, Nigeria, and the Republic of Congo - using similar simplifying assumptions so that we are using the same lens to view how they do and do not differ.
Download or read book The Effects of Oil Companies Activities on the Environment Health and Development in Sub Saharan Africa written by and published by . This book was released on 2011 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Energy Justice written by Rukonge Sospeter Muhongo and published by Springer Nature. This book was released on 2020-11-02 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores local content policies and their role in natural resource management within the realm of energy justice. Based on several country case studies it discusses the role of regional integration for such policies in Sub-Saharan Africa. Energy justice has been widely applied across different aspects of development, but here the principles of justice are specifically integrated with the management and implementation of oil and gas projects. Such an analysis offers novel means of implementing policies in local regions, moving away from a one-size fits all approach that leads to the ineffective transplantation of policies from developed economies to developing Sub-Saharan economies. The book argues that with a regional approach, Sub-Saharan Africa can leverage natural resources, industrial parks, supplier clusters, regional financing mechanisms and regional training facilities which would drive down the costs of production, increase efficiency and integrate the local Sub-Saharan population into the oil and gas industry. This would result in the benefits as well as the environmental concerns and responsibilities intrinsic to these industries, being spread more equally amongst local and none local stakeholders. This book will be a valuable resource for scholars and students as well as policy makers and practitioners in the areas of extractive industry-related disciplines energy governance, and economic development in Africa.
Download or read book Sub Saharan Africa written by World Bank and published by . This book was released on 1989 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: 3. Investing in people.
Download or read book Sub Saharan Africa written by Ms.Catherine A. Pattillo and published by International Monetary Fund. This book was released on 2006-08-28 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial sectors in low-income sub-Saharan Africa (SSA) are among the world's least developed. In fact, assets in most low-income African countries are smaller than those held by a single medium-sized bank in an industrial country. The absence of deep, efficient financial markets seriously challenges policy making, hinders poverty alleviation, and constrains growth. This book argues that building efficient and sound financial sectors in SSA countries will improve Africa's economic prospects. Based on a review of the key features of financial systems, it discusses the main obstacles and challenges that financial structures pose for SSA economies and recommends steps that could address major shortcomings in implementing the reform agenda.
Download or read book Regional Economic Outlook October 2014 written by International Monetary Fund and published by International Monetary Fund. This book was released on 2014-10-20 with total page 110 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Biofuels in Africa written by Donald Mitchell and published by World Bank Publications. This book was released on 2010-11-24 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: A new economic opportunity for sub-Saharan Africa is looming large: biofuel production. Rapidly rising energy prices are expected to remain high for an extended period of time because of the increasing demand in prospering and populous countries such as China and India, the depletion of easily accessible supplies of crude oil, and concern over global climate change. As a result, there is renewed interest in biofuels as an alternative to fossil fuels. Africa is uniquely positioned to produce these new cash crops for both domestic use and export. The region has abundant land resources and preferential access to protected markets with higher-than-world-market prices. The rapid growth in the demand for transport fuels in Africa and high fuel prices create domestic markets for biofuels. The European Union and the United States have approved legislation that requires large increases in the consumption of biofuels over at least the next decade. Imports are expected to be needed to meet these mandates, thus opening the door to African and other developing countries that can produce biofuels or feedstocks for biofuels competitively. Expanding the production of crops for biofuels will affect the entire rural sector in Africa as resources are shifted away from traditional crops and the prices of all agricultural commodities rise. Even smallholders can participate in producing biofuel crops. To promote the sustainability and significant contribution of this enterprise, Biofuels in Africa provides guidance in formulating suitable policy regimes, which are based on protecting the rights of current land users, developing revenue-sharing schemes with local communities, safeguarding the environment and biodiversity, expanding institutional capacity, formulating new regulations and procedures, and emulating best practices from experienced countries. This volume will be of value to anyone interested in biofuels, including policy makers, development practitioners, private investors, researchers, and the general public. Now that African countries are trying to significantly increase their energy supply systems, biofuels are an attractive option using both dedicated crops and agricultural waste. This book provides guidance for them to develop a suitable policy regime for a significant contribution by biofuels. Professor Ogunlade R. Davidson, Minister of Energy and Water Resources, Sierra Leone Biofuels in Africa is a sorely needed resource for our understanding of the problems of expanding biofuels production in Africa. A high point of the book is a description of the projects that were started in several countries. A very useful book! Professor Jos Goldemberg, University of S o Paulo, Brazil As Africa most likely will play the same role for global biofuels as the Middle East does for oil, this comprehensive book on African biofuels should be compulsory reading for anyone interested in either African development or biofuels. The book captures the essence of long-term drivers and opportunities as well the complex challenges for investors and society of this huge emerging industry. Per Carstedt, Executive Chairman, EcoEnergy Africa
Download or read book Energy Subsidy Reform in Sub Saharan Africa written by Mr.Trevor Serge Coleridge Alleyne and published by International Monetary Fund. This book was released on 2013-08-12 with total page 125 pages. Available in PDF, EPUB and Kindle. Book excerpt: The reform of energy subsidies is an important but challenging issue for sub-Saharan African (SSA) countries. There is a relatively large theoretical and empirical literature on this issue. While this paper relies on that literature, too, it tailors its discussion to SSA countries to respond to the following questions: Why it is important to reduce energy subsidies? What are the difficulties involved in energy subsidy reform? How best can a subsidy reform be implemented? This paper uses various sources of information on SSA countries: quantitative assessments, surveys, and individual (but standardized) case studies.
Download or read book Tax Revenue in Sub Saharan Africa written by Dhaneshwar Ghura and published by International Monetary Fund. This book was released on 1998-09 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Large fiscal deficits have been a daunting problem for a number of countries in sub-Saharan Africa over the past several years. Rapid expansions in expenditure and declining or low revenue levels have been the main cause of fiscal imbalances.2 Recent endogenous growth models have demonstrated that growth can be enhanced by, inter alia, reducing fiscal imbalances, which, in turn, can be achieved by either lowering expenditure or raising revenue.3 However, many countries in the region have reduced expenditure to minimum sustainable levels, especially in health, education, and infrastructure. Thus, raising tax revenue to achieve fiscal sustainability would be a feasible alternative. Also, in order to improve the environment for private sector development and sustained economic growth, governments need to play a supportive role by investing in physical and human capital, and institutional infrastructure. Tax revenue is needed for such expenditure if inflationary financing and the crowding out of the private sector are to be avoided (Hamada, 1994).
Download or read book Regional Economic Outlook April 2017 Sub Saharan Africa written by Céline Allard and published by International Monetary Fund. This book was released on 2017-05-09 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Regional Economic Outlook April 2016 Sub Saharan Africa written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2016-05-03 with total page 137 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Regional Economic Outlook October 2017 Sub Saharan Africa written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2017-11-27 with total page 129 pages. Available in PDF, EPUB and Kindle. Book excerpt: Growth in sub-Saharan Africa has recovered relative to 2016, but the momentum is weak and per capita incomes are expected to barely increase. Further, vulnerabilities have risen in many countries, adding to the urgency of implementing the fiscal consolidations planned in most countries and with stepped up efforts to strengthen growth.
Download or read book Regional Economic Outlook April 2015 Sub Saharan Africa written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2015-04-28 with total page 121 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Challenges of Growth and Globalization in the Middle East and North Africa written by Mr.Hamid R Davoodi and published by International Monetary Fund. This book was released on 2003-09-05 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Middle East and North Africa (MENA) is an economically diverse region. Despite undertaking economic reforms in many countries, and having considerable success in avoiding crises and achieving macroeconomic stability, the region’s economic performance in the past 30 years has been below potential. This paper takes stock of the region’s relatively weak performance, explores the reasons for this out come, and proposes an agenda for urgent reforms.
Download or read book Regional Economic Outlook October 2019 Sub Saharan Africa written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2019-10-18 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: Growth in sub-Saharan Africa is expected to pick up, though at a slower pace than previously expected. This revision reflects a more challenging external environment, continued output disruptions in oil-exporting countries, and a weaker-than-anticipated growth in South Africa. The challenge for the region is to boost growth to create jobs for the growing labor force, while protecting against debt vulnerabilities and risks from a difficult global environment.
Download or read book Regional Economic Outlook April 2012 Sub Saharan Africa written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2012-05-17 with total page 137 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sub-Saharan Africa continues to record strong economic growth, despite the weaker global economic environment. Regional output rose by 5 percent in 2011, with growth set to increase slightly in 2012, helped by still-strong commodity prices, new resource exploitation, and the improved domestic conditions that have underpinned several years of solid trend growth in the region's low-income countries. But there is variation in performance across the region, with output in middle-income countries tracking more closely the global slowdown and with some sub-regions adversely affected, at least temporarily, by drought. Threats to the outlook include the risk of intensified financial stresses in the euro area spilling over into a further slowing of the global economy and the possibility of an oil price surge triggered by rising geopolitical tensions.
