World Bank2014-09-102014-09-102014-04978-1-4648-0419-9https://hdl.handle.net/10986/20055This Africa's pulse newsletter includes the following The economic outlook for Sub-Saharan Africa remains robust, but growth is vulnerable to lower commodity prices and a slowdown in capital flows, the frequency and strength of growth spurts have increased, and growth has shifted the structure of African economies in favor of the resources and services sectors.en-USCC BY 3.0 IGOAGGREGATE DEMANDARBITRAGEBALANCE OF PAYMENTSBALANCE SHEETSBANK LENDINGBASIS POINTSBONDBOND MARKETSBOND YIELDSBONDSBORROWERBUDGET DEFICITSCAPITAL FLOWCAPITAL FLOWSCAPITAL FORMATIONCAPITAL INFLOWSCAPITAL MARKETSCAPITAL OUTFLOWCAPITAL STOCKCDSCENTRAL BANKCENTRAL BANKSCIVIL WARCOMMODITIESCOMMODITYCOMMODITY EXPORTSCOMMODITY PRICECOMMODITY PRICESCONNECTIVITYCONSUMER DURABLESCONSUMER PRICE INFLATIONCONSUMER SPENDINGCONTRACT ENFORCEMENTCORPORATE DEBTCOST OF CAPITALCOUNTRY EQUITIESCOUPONCOUPON PAYMENTCOUPON RATESCREDIT CONSTRAINTSCREDITORSCURRENCYCURRENCY DEPRECIATIONSCURRENT ACCOUNT BALANCECURRENT ACCOUNT BALANCESCURRENT ACCOUNT DEFICITCURRENT ACCOUNT DEFICITSDEBTDEBT FLOWSDEBT LEVELSDEBT RATIODEBT RATIOSDEBT RELIEFDEBT WITH MATURITIESDEBTSDEVALUATIONDEVELOPING COUNTRIESDEVELOPING COUNTRYDEVELOPING COUNTRY EQUITIESDEVELOPING COUNTRY STOCK MARKETSDOMESTIC BONDSDOMESTIC DEBTDOMESTIC INTEREST RATESDOMESTIC INVESTORSDOMESTIC MARKETDOMESTIC MARKETSECONOMIC DEVELOPMENTSECONOMIC PERFORMANCEEMERGING MARKETEMERGING MARKET COUNTRIESEMERGING MARKETSEQUITY FLOWSEUROBONDEXCHANGE RATEEXCHANGE RATESEXPORT PERFORMANCEEXPORTERSEXTERNAL DEBTEXTERNAL FINANCINGFEDERAL RESERVEFINANCIAL CRISISFINANCIAL MARKETFINANCIAL SECTORFINANCIAL SHOCKSFINANCIAL SYSTEMSFINANCIAL VOLATILITYFINANCING REQUIREMENTSFISCAL CONSOLIDATIONFISCAL DEFICITFISCAL DEFICITSFISCAL POLICYFIXED CAPITALFIXED COUPONFIXED INTERESTFIXED INTEREST RATESFIXED INVESTMENTFLOATING EXCHANGE RATESFOOD PRICEFOOD PRICESFOOD PRODUCTIONFOREIGN CAPITALFOREIGN CURRENCYFOREIGN DIRECT INVESTMENTFOREIGN EXCHANGEFOREIGN EXCHANGE MARKETFOREIGN FIRMSFOREIGN INVESTMENTFOREIGN INVESTORSFUTURESGLOBAL ECONOMIC PROSPECTSGLOBAL ECONOMYGLOBAL FINANCIAL MARKETSGLOBAL FINANCIAL STABILITYGLOBAL MARKETSGLOBAL OUTPUTGLOBAL TRADEGOVERNMENT BONDGOVERNMENT BOND MARKETSGOVERNMENT REVENUEGOVERNMENT SECURITIESGROSS DOMESTIC PRODUCTGROWTH RATEGROWTH RATESHOST COUNTRIESINCOMEINCOMESINFLATIONARY PRESSURESINFRASTRUCTURE INVESTMENTINTEREST RATEINTEREST RATE RISKINTEREST RATE SHOCKINTEREST RATE SHOCKSINTEREST RATESINTERNATIONAL BONDINTERNATIONAL BOND MARKETSINTERNATIONAL CAPITALINTERNATIONAL CAPITAL MARKETSINTERNATIONAL DEBTINTERNATIONAL MARKETINTERNATIONAL MARKETSINVESTINGINVESTMENT FLOWSINVESTMENT PROJECTSINVESTOR CONFIDENCEJOINT VENTURESLABOR MARKETLENDERSLIBERALIZATIONLIQUIDITYLIQUIDITY PREMIUMLOANLOAN AMOUNTLOCAL ECONOMIESLOCAL GOVERNMENTLOCAL MARKETSLOCAL SECURITIESLOW-INCOME COUNTRIESMACROECONOMIC MANAGEMENTMACROECONOMIC STABILITYMARKET CONDITIONSMARKET ECONOMIESMARKET PRICESMARKET SIZEMARKET STRUCTURESMARKET VOLATILITYMATURITYMIDDLE-INCOME COUNTRIESMONETARY POLICIESMONETARY POLICYMONOPOLYNATURAL RESOURCENATURAL RESOURCESNET CAPITALOIL PRICESPOLITICAL ECONOMYPOLITICAL STABILITYPOLITICAL UNRESTPORTFOLIOPORTFOLIO FLOWSPORTFOLIO INFLOWSPORTFOLIOSPRICE STABILITYPRICE VOLATILITYPRIVATE DEBTPRIVATE FINANCINGPRIVATE SECTOR DEBTPRIVATE SECTOR DEVELOPMENTPUBLIC DEBTPUBLIC INVESTMENTRAPID GROWTHREAL ECONOMIC ACTIVITYREAL ESTATEREAL EXCHANGE RATERECURRENT EXPENDITURESREGULATORY REQUIREMENTSREMITTANCESRESERVESSECURITIESSECURITIES MARKETSSHORT-TERM CAPITALSHORT-TERM DEBTSHORT-TERM EXTERNAL DEBTSHORT-TERM INTEREST RATESSKILLED WORKERSSMALL ECONOMIESSOVEREIGN BONDSSTOCK PRICESSUSTAINABILITY ANALYSESTAXTECHNICAL ASSISTANCETRADE CREDITTRADE DEFICITSTRANSACTION COSTSTREASURIESWORLD DEVELOPMENT INDICATORSWORLD ECONOMY10.1596/ 10.1596/ 978-1-4648-0419-9