Africa’s Pulse is a biannual publication containing an analysis of the near-term macroeconomic outlook for the region. Each issue also includes a section focusing upon a topic that represents a particular development challenge for the continent. It is produced by the Office of the Chief Economist for the Africa Region of the World Bank.
(World Bank, Washington, DC, 2015-10-05)
Chuhan-Pole, Punam; Calderon, Cesar; Kambou, Gerard; Boreux, Sebastien; Buitano, Mapi M.; Korman, Vijdan; Kubota, Megumi
External headwinds and domestic
difficulties are impacting economic activity in Sub-Saharan
Africa. Sub-Saharan Africa’s growth will decelerate in 2015
amid weak global economic conditions. Some countries,
however, will continue posting solid growth. Sub-Saharan
Africa is entering a period of tightening borrowing
conditions amid growing domestic and external
vulnerabilities. Reflecting the widening fiscal deficits,
government debt has continued to rise in many countries.
Weak fundamentals, combined with the strong appreciation of
the U.S. dollar, have kept currencies across the region
under pressure throughout the year. Policy buffers are low
in several countries, constraining the response to the
current environment and underscoring the need for African
countries to improve domestic resource mobilization and
enhance public expenditure efficiency. Progress in reducing
income poverty in Sub-Saharan Africa may have been faster
than the authors thought, but poverty remains high. The
region’s growth deceleration challenges efforts to reduce poverty.
This Africa's pulse newsletter
includes the following headings: recent economic trends and
prospects; Africa and the millennium development goals; and
yes Africa can: success stories from a dynamic continent.