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 […]

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 […]

If China Sneezes, Africa Can Now Catch a Cold

By Paulo Drummond and Estelle Xue Liu Growing links with China have supported economic growth in sub-Saharan Africa. But the burgeoning commercial and financial ties between the developing subcontinent and the world’s second-biggest economy carry risks as well. These links also expose sub-Saharan African countries to potentially negative spillovers from China if the Asian giant’s growth slows or […]

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 […]

Mali: At the Dawn of a New Year

By Christine Lagarde (Version in Français) My second stop on this trip to Africa, after Kenya, was Mali—a country that is facing an extraordinarily difficult transition: from restoring political stability to securing economic stability—from crisis to recovery. Having gone through massive turmoil in 2012, Mali is emerging successfully, thanks to the perseverance and fortitude of its people. […]

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