Regional growth weakened in 2013 due to a fall in oil production in most countries. GDP growth is expected to pick-up in 2014 due to the recovery of oil production and the continuation of the implementation of public investment plans in most of CEMAC countries. Despite large spending of oil...

KEY ISSUES Context: Kenya has embarked on major reforms in line with the 2010 constitution. The new government has started the process of devolution at a fast pace, introducing a reporting framework that allows for monitoring progress and challenges. Macroeconomic stability in a market-friendly...

KEY ISSUES Context. The region continued to experience strong growth in 2014, led by the continued economic expansion in Cote d’Ivoire. The outlook is for further strong growth, subject to a range of downward risks, in particular political instability ahead of upcoming elections in several...

This Selected Issues paper on West African Economic and Monetary Union presents external stability assessment report. The current account deficit declined in 2014. Although gross international reserve coverage has increased slightly, part of the current account deficit has been financed by a...

EXECUTIVE SUMMARY Background: Kenya’s recent reforms have introduced a more comprehensive system of checks and balances, including accountability and transparency in expenditure control and management. In this context, the new government has taken decisive steps towards devolution supported by...

Economic activity in Kenya has remained resilient to uncertainty surrounding the elections, the impact of the European crisis, and security-related concerns. Fiscal policy is in line with the program despite difficulties. International reserves are on the rise, and the deficit of the external...