Budget managers are frequently confronted with changing circumstances during a fiscal year that disrupt even the best prepared spending plans. Some of these changed circumstances require no more than regular adjustments to plans, while others become chronic and have a significant effect on public finances. The latter are commonly referred to as extraordinary shocks, which are sudden and can pose a threat to fiscal stability and service delivery.
This paper analyses the development of local currency sovereign bond markets (LCBMs), a potentially important but often overlooked source of longer-term public finance, in Sub- Saharan Africa (SSA).
The African Economic Outlook bridges a critical knowledge gap on the diverse socio-economic realities of African economies through regular, rigorous, and comparative analysis. It provides short-to-medium term forecasts on the evolution of key macroeconomic indicators for all 54 regional member countries, as well as analysis on the state of socio-economic challenges and progress made in each country.
Domestic funding for Africa: New ways to bridge infrastructure gap, Cédric Mbeng Mezui, African Development Bank Group
African Development Bank Financial Presentation 2017
In the May edition of OMFIF (Official Monetary and Financial Institutions Forum), Cedric Mbeng Mezui examines the links between commodity revenues and fiscal policy in Africa, warning against procyclical tendencies that expose external vulnerabilities.
After seven years of unorthodox operations, primarily quantitative easing, central banks are beginning to consider when and how to normalise monetary policy.
In most countries, the development of a government securities market has been crucial in aiding the creation of a liquid and efficient domestic debt market that facilitates parastatal, corporate and other issuance. It also signals that a country is maturing financially and is less dependent on donor funding.
Categories: Burundi, Comoros, Djibouti, Eritrea, Ethiopia, Kenya, Rwanda, Seychelles, Somalia, Sudan, Tanzania, Uganda, Angola, Botswana, Lesotho, Madagascar, Malawi, Mauritius, Mozambique, Namibia, South Africa, Swaziland, Zambia