Regional Economic Outlook: Sub-Saharan Africa, October 2008

Business & Finance, Economics, International Economics, Macroeconomics, Nonfiction, Social & Cultural Studies, Political Science, Politics, Economic Policy
Cover of the book Regional Economic Outlook: Sub-Saharan Africa, October 2008 by International Monetary Fund. African Dept., INTERNATIONAL MONETARY FUND
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Author: International Monetary Fund. African Dept. ISBN: 9781451988543
Publisher: INTERNATIONAL MONETARY FUND Publication: October 19, 2008
Imprint: INTERNATIONAL MONETARY FUND Language: English
Author: International Monetary Fund. African Dept.
ISBN: 9781451988543
Publisher: INTERNATIONAL MONETARY FUND
Publication: October 19, 2008
Imprint: INTERNATIONAL MONETARY FUND
Language: English
Sub-Saharan Africa's prospects have deteriorated somewhat and the risks have increased, according to this report. Growth in the region is projected to dip to 6 percent in 2008 and 2009. The fall is due mainly to the global food and fuel price shock, which has weighed particularly on growth in oil-importing countries, and to the global financial market turmoil, which has slowed global growth and demand for Africa's exports. Inflation is expected to rise to 12 percent in 2008, mainly on account of the food and fuel price shock. As a result of rising prices, particularly of food, poverty may well be on the increase in 2008. In 2009, inflation should ease to 10 percent, helped by recent commodity price declines. There are significant risks to the outlook related to a potentially deeper and longer period of global financial turmoil and resulting slowdown in global activity, and substantial uncertainty concerning commodity prices.
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Sub-Saharan Africa's prospects have deteriorated somewhat and the risks have increased, according to this report. Growth in the region is projected to dip to 6 percent in 2008 and 2009. The fall is due mainly to the global food and fuel price shock, which has weighed particularly on growth in oil-importing countries, and to the global financial market turmoil, which has slowed global growth and demand for Africa's exports. Inflation is expected to rise to 12 percent in 2008, mainly on account of the food and fuel price shock. As a result of rising prices, particularly of food, poverty may well be on the increase in 2008. In 2009, inflation should ease to 10 percent, helped by recent commodity price declines. There are significant risks to the outlook related to a potentially deeper and longer period of global financial turmoil and resulting slowdown in global activity, and substantial uncertainty concerning commodity prices.

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