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Les perspectives restent prometteuses pour la région, mais l'évolution de la situation mondiale présente des risques accrus. La croissance en Afrique subsaharienne devrait à nouveau s'établir aux alentours de 6,5 % en 2008, avec les pays exportateurs de pétrole en tête de peloton ; dans les pays importateurs, la croissance devrait par contre se tasser modérément. Les prix des denrées alimentaires et de l'énergie augmentant encore, l'inflation devrait s'établir en moyenne à environ 8,5 % cette année dans les pays de la région, à l'exception du Zimbabwe. La tendance des risques que pour 2008 est plutôt négative, mais la région est aujourd'hui mieux placée pour résister à une dégradation de la situation mondiale.

Africa, Sub-Saharan -- Economic conditions -- 1960-. --- Africa, Sub-Saharan -- Economic policy. --- Capital movements -- Africa, Sub-Saharan. --- Foreign exchange rates -- Africa, Sub-Saharan. --- Monetary policy -- Africa, Sub-Saharan. --- Power resources -- Africa, Sub-Saharan. --- Monetary policy --- Foreign exchange rates --- Capital movements --- Power resources --- Africa, Sub-Saharan --- Economic conditions --- Economic policy. --- Energy --- Energy resources --- Power supply --- Capital flight --- Capital flows --- Capital inflow --- Capital outflow --- Flight of capital --- Flow of capital --- Movements of capital --- Exchange rates --- Fixed exchange rates --- Flexible exchange rates --- Floating exchange rates --- Fluctuating exchange rates --- Foreign exchange --- Rates of exchange --- Monetary management --- Rates --- Natural resources --- Energy harvesting --- Energy industries --- Balance of payments --- International finance --- Economic policy --- Currency boards --- Money supply --- Investments: Energy --- Exports and Imports --- Foreign Exchange --- Inflation --- Money and Monetary Policy --- International Investment --- Long-term Capital Movements --- Price Level --- Deflation --- Monetary Policy --- Monetary Policy, Central Banking, and the Supply of Money and Credit: General --- Currency --- Macroeconomics --- International economics --- Monetary economics --- Investment & securities --- Exchange rate arrangements --- Capital inflows --- Inflation targeting --- Prices --- South Africa

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KEY ISSUES Context. The region continued to experience strong growth in 2014, led by the continued economic expansion in Cote d’Ivoire. The outlook is for further strong growth, subject to a range of downward risks, in particular political instability ahead of upcoming elections in several countries, and security issues in Mali and Niger. With an elevated fiscal deficit exerting pressure on the balance of payments and the regional financial market, delays in fiscal consolidation or structural reforms pose the main medium-term risks. Policy recommendations: • Fiscal consolidation. Safeguarding external stability in the region will require governments to adhere to their budget deficit reduction plans while maintaining public investment efforts, which will require increasing tax revenue and controlling current expenditure. • Monetary policy. Macroeconomic conditions do not warrant a tightening of monetary policy at this juncture. However, if fiscal deficits do not decline as envisaged, the BCEAO should consider increasing its policy rates. In the mean time, the BCEAO should very closely follow the evolution of the macro-prudential risks flowing from its sharp increase in commercial bank refinancing. • Financial stability. The WAEMU authorities should enforce existing prudential rules and raise standards to international best practice. Ongoing reforms go in the right direction but need to be accelerated. • Structural transformation and regional integration. Policies to promote structural transformation should focus on addressing weaknesses, such as the lack of education and training, finance, and supportive regulatory environments. Countries should refrain from using the possibility to deviate from the common external tariff of the Economic Community of West African States (ECOWAS) in force since January 1, 2015, in order to protect the gains from regional integration in WAEMU.

Africa, West -- Economic conditions. --- Africa, West -- Economic policy. --- Monetary policy -- Africa, West.. --- Finance --- Business & Economics --- Banking --- Banks and Banking --- Finance: General --- Macroeconomics --- Public Finance --- Money and Monetary Policy --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Debt --- Debt Management --- Sovereign Debt --- Fiscal Policy --- National Government Expenditures and Related Policies: Infrastructures --- Other Public Investment and Capital Stock --- Financial Institutions and Services: Government Policy and Regulation --- Financial Markets and the Macroeconomy --- Taxation, Subsidies, and Revenue: General --- Public finance & taxation --- Financial services law & regulation --- Economic growth --- Government debt management --- Commercial banks --- Capital adequacy requirements --- Fiscal consolidation --- Public financial management (PFM) --- Financial sector development --- Financial markets --- Public debt --- Financial institutions --- Revenue administration --- Banks and banking --- Debts, Public --- Fiscal policy --- Asset requirements --- Economic development --- Financial services industry --- Revenue --- Public-private sector cooperation --- Burkina Faso

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Provides a broad synopsis of recent economic developments in the Middle East and Central Asia region, highlighting common trends and policies among countries in the region, and reviewing prospects and policies for the coming year. Includes a statistical appendix.

Finance -- Africa, Sub-Saharan. --- Financial institutions -- Africa, Sub-Saharan. --- Financial services industry -- Africa, Sub-Saharan. --- Monetary policy -- Africa, Sub-Saharan. --- Finance --- Financial institutions --- Financial services industry --- Monetary policy --- Business & Economics --- Financial Management & Planning --- -Financial institutions --- -Financial services industry --- -Monetary policy --- -AFR / Africa - Afrika - Afrique --- 333.101 --- 332.096 --- Monetary management --- Economic policy --- Currency boards --- Money supply --- Services, Financial --- Service industries --- Financial intermediaries --- Lending institutions --- Associations, institutions, etc. --- Funding --- Funds --- Economics --- Currency question --- Banksysteem en bankstelsel. --- AFR / Africa - Afrika - Afrique --- Banksysteem en bankstelsel --- Economic forecasting --- Economic forecasting. --- Economic history. --- Economic conditions --- History, Economic --- Forecasting --- Economic indicators --- Africa, Sub-Saharan --- Africa, Black --- Africa, Subsaharan --- Africa, Tropical --- Africa South of the Sahara --- Black Africa --- Sub-Sahara Africa --- Sub-Saharan Africa --- Subsahara Africa --- Subsaharan Africa --- Tropical Africa --- Economic conditions. --- Investments: Energy --- Foreign Exchange --- Inflation --- Macroeconomics --- Taxation --- Energy: Demand and Supply --- Prices --- Energy: General --- Business Taxes and Subsidies --- Price Level --- Deflation --- Currency --- Foreign exchange --- Investment & securities --- Public finance & taxation --- International economics --- Exchange rate arrangements --- Oil prices --- Oil --- Conventional peg --- Oil, gas and mining taxes --- Commodities --- Taxes --- Petroleum industry and trade --- International finance --- South Africa --- Banks and Banking --- Public Finance --- Industries: Financial Services --- Finance: General --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- National Government Expenditures and Related Policies: General --- Financial Institutions and Services: General --- Financial Institutions and Services: Government Policy and Regulation --- Banking --- Floating exchange rates --- Expenditure --- Financial services --- Financial sector --- Economic sectors --- Fiscal federalism --- Fiscal policy --- Banks and banking --- Expenditures, Public