In Mozambique—and In Africa—Rising Requires Resilience

By Doris Ross: Three months ago African leaders and policymakers assembled in Mozambique under an “Africa Rising” banner to assess the continent’s strong economic performance. But while the outlook for the continent remains strong, individual countries have faced problems and the uncertain global outlook continues to pose risks. Against this backdrop, what are the policies that […]

What Ails South Africa?

South Africa presents a beguiling picture to tourists – mostly. First-world hotels and roads. Efficient air travel. Fashionable restaurants. Extraordinary game parks. Startling scenery. It also has a business friendly government and ranks 41st out of 189 countries in the World Bank’s “Ease of Doing Business” rankings. (It’s ahead of Qatar, Oman and, of course, […]

IMF in MENA: Strengthening the Middle in Morocco

By Christine Lagarde—Managing Director, IMF: Earlier this week, the first stop on my Middle East and North Africa trip was Morocco, which displayed its legendary hospitality and kindness. Located at the crossroads of Africa, Europe, and the Middle East, the country holds so much promise as a dynamic hub for the region. Morocco has remained a […]

For Africa, Good Policies Bring Good Prospects

By Antoinette M. Sayeh Once again, the latest review of growth prospects for sub-Saharan Africa shows that the region’s economy is in strong health. Growth in the region is set to pick up to 5½ percent in 2014 compared to 4.9 percent last year (see Chart 1). My view is that this growth momentum will continue over […]

Nigeria’s Missing Oil Money Sparks Political Crisis

Over a month after Nigerian President Goodluck Jonathan suspended the country’s Central Bank governor after he blew the whistle on $20 billion in oil money allegedly missing from state coffers, a forensic audit team has still not been formed. Officially, President Jonathan suspended Central Bank Governor Lamido Sanusi in mid-February because of “financial recklessness and misconduct” and “far-reaching irregularities” […]

New Risks to Nigeria’s Growth Promise

Only a year ago, Nigeria’s BRIC future still seemed reachable. Today, domestic threats are increasing, while the international environment is far more challenging. A decade ago, Goldman Sachs’s BRIC analysts included Nigeria among the potential BRIC successor economies. A few years later, the government released its transformation agenda, aimed at making Nigeria one of the […]

Nigeria Mulls $20 Billion Trans-Saharan Natural Gas Project

Nigeria, already black Africa’s largest oil exporter, is thinking big, about exporting natural gas to Europe and thereby undercutting Brussels’ unhappy dependence on natgas exports from the Russian Federation. According to the authoritative U.S. government’s Energy Information Administration, “Nigeria is the largest oil producer in Africa and was the world’s fourth leading exporter of liquefied natural […]