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The International Monetary Fund’s (IMF) World Economic Outlook is one of the most closely-watched set of forecasts in the world. How do economists get to the predictions in it? CNBC International gets an inside look at the process from Washington.

Here is how IMF’s economists make predictions

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The International Monetary Fund (IMF) is projecting a 3.2 for Sub-Saharan Africa in 2019 and a 3.6 per cent growth for the region in 2020. As contained in its World Economic Outlook (WEO), the fund is also projecting a 2.3 for Nigeria in 2019 and a 2.5 per cent growth for the country in 2020. Paul Alaje, Senior Economist at SPM Professional joins CNBC Africa to discuss the feasibility of these projections.

IMF projects 3.2% economic growth for SSA in 2019

On Tuesday the IMF released its World Economic Outlook, this is what it revealed about Africa and trade wars in charts.



By Charlie Robertson, Global Chief Economist, Renaissance Capital



What grabbed my attention is that Ghana is expected to be the fastest growing economy, not just in Africa (shown below) but in the world ! Up 8.8% (pipping South Sudan by 0.01% &#8211; I guess Ghana is more popular in DC). 



<figure class="wp-block-image"><img decoding="async" src="http://cnbc.africa/wp-content/uploads/2019/04/R1.jpg" alt="" class="wp-image-334330"/></figure>



Source:
IMF, Renaissance Capital 



And that Africa has 4 of the top 5 fastest growing economies in the world.&nbsp; And to those who say, yeah but they’re poor, .. that did not help Africa take the top spots in the 1980s or 1990s.&nbsp; Something’s changed .. 



<figure class="wp-block-image"><img decoding="async" src="http://cnbc.africa/wp-content/uploads/2019/04/r2.jpg" alt="" class="wp-image-334331"/></figure>



Source:
IMF, Renaissance Capital 



Given the
global trade wars – I liked this chart too.&nbsp; In terms of current account
surpluses – China does not make the top 10.&nbsp; Meanwhile the UK is the
second worst in the world in $bn terms.&nbsp; It’s a good thing we don’t have a
political crisis that might jeopardise funding or anything like that. Ah yes –
&nbsp;EM rules don’t apply to the UK (yet). 



There is
talk that once Trump is done with China he will turn his trade war onto Germany
.. and this chart offers support for that. 



<figure class="wp-block-image"><img decoding="async" src="http://cnbc.africa/wp-content/uploads/2019/04/r3.jpg" alt="" class="wp-image-334332"/></figure>



Source:
IMF, Renaissance Capital

This African nation has the fastest growing economy in the world

By Jacques Nel, Chief Economist: Southern and East Africa, NKC African Economics 
The International Monetary Fund (IMF) released its World Economic Outlook (WEO) report for April 2018. Entitled “Cyclical Upswing, Structural Change”, the largely positive report notes that global economic growth has not been this strong and broad-based since the sharp 2010 bounce-back following the 2008-09 financial crisis.
Global real GDP growth is projected to reach 3.9% this year, which is slightly higher than the October projection of 3.7%. The Fund’s growth forecast for sub-Saharan Africa (SSA) remains at 3.4% for this year. This reflects a notable improvement from the 2.8% growth estimate for 2017. The Middle East and North Africa (Mena) region is also projected to grow by 3.4% this year, which is markedly higher than the 2017 growth estimate of 2.6% and slightly stronger than the October projection of 3.2% for 2018.
The latest update includes some notable revisions to individual country growth projections for this year.
Algeria saw the largest upward revision to its 2018 growth forecast from a projection of 0.7% made in October to the latest figure of 3.0%. The oil exporter continues to struggle to adapt to structurally lower energy prices, but higher oil- and gas-related fiscal revenue is expected to support the government’s planned increase in capital spending this year.
Zimbabwe is another country that saw a sizeable upward adjustment in its 2018 growth forecast (from 0.8% made in October to the current figure of 2.4%), with the IMF evidently giving newly installed President Emmerson Mnangagwa the benefit of the doubt over whether his promising rhetoric will be converted into action.
Furthermore, most of the continent’s economic giants also saw upward revisions to their 2018 growth projections, including Nigeria (due to an improved outlook for oil revenue and the introduction of forex measure to ease liquidity constraints), Angola (due to stronger oil prices), Egypt (due to stronger domestic demand and the effects of structural reforms), and South Africa (due to ‘Ramaphoria’).
At the other end of the spectrum, some countries saw notable reductions in their 2018 growth projections.
Libya saw the largest downward revision, from an October projection of 31.2% to the latest figure of 16.4%. The IMF made significant downward revisions to its historical estimates for Libya’s GDP in 2015 and 2016 while increasing the estimate for real GDP in 2017. This led to an estimate of 71% real GDP growth for 2017 compared to the 55% growth forecast made in October. These wild revisions in estimates speak to the difficulties involved given the scarcity of solid economic data for the country and its total dependence on oil exports.
A notable downward revision in Ghana’s 2018 growth projection saw the West African nation conceding the title of the fastest-growing SSA economy to its East African counterpart Ethiopia – these were also the two fastest growing economies in the region in 2017, according to IMF estimates. A slowdown in industrial output due to maintenance work at the Jubilee oil field coupled with indications of a smaller cocoa crop this season have resulted in a 2.6 percentage point reduction in the country’s 2018 growth forecast, now set at 6.3%.
Mozambique saw its growth projection drop from 5.3% in October to the latest figure of just under 3%. The country continues to struggle with elevated real interest rates, while the decision by creditors to reject all the government’s debt restructuring proposals in March has sustained a smog of uncertainty over the country’s economic future.
Sierra Leone, Lesotho and Namibia all saw notable downward revisions in their 2018 growth forecasts.
<img loading="lazy" decoding="async" class="alignnone size-full wp-image-304778" src="http://cnbc.africa/wp-content/uploads/2018/04/Africa-IMF.png" alt="" width="416" height="227" />
Stronger growth in Africa’s largest economies bodes well for the continent’s economic prospects as a whole.
South Africa, Nigeria and Egypt are regional growth drivers for Southern, West, and North Africa, respectively, and the health of these larger economies has direct bearing on growth prospects in their smaller neighbours.
It should be noted that the improvement in growth prospects for Nigeria and Angola is largely due to stronger oil prices, while South Africa’s expected recovery is still largely based on sentiment.
Nigeria still has much to do to diversify its economy away from its oil sector to improve economic resilience. In turn, South Africa’s political landscape has undoubtedly seen some improvement of late, but this positive sentiment still has to translate into actual progress on the economic front.
&nbsp;

The IMF has altered its outlook on Africa, this is what’s changed

The article below was written by Momentum SP Reid
The Vanguard reports that the <a href="https://www.imf.org/en/Publications/WEO/Issues/2017/07/07/world-economic-outlook-update-july-2017">International Monetary Fund </a>(IMF) has 
projected that Nigeria&#8217;s economy will grow at a faster pace than South 
Africa&#8217;s in 2018, see table 1. According to its World Economic Outlook, WEO, for July 
2017, the IMF said Nigeria will grow at 1.9% in 2018, while South Africa will 
only climb by 1.2%.
In 2016, the Nigerian economy contracted by 1.6%, while South Africa 
expanded by 0.3%. Projections for 2017 put South Africa&#8217;s growth at 1%, 
while Nigeria is expected to muster just 0.8%. The Bretton Woods 
institution, which held global growth projections at 3.5% in 2017 and 3.6% 
in 2018, said growth was marked down in South Africa due to elevated 
political uncertainty.
<table class="financial weo-upd" border="0" cellspacing="0" cellpadding="0">
<colgroup>
<col width="292" />
<col span="4" width="51" />
<col width="19" />
<col span="2" width="65" />
<col width="19" />
<col span="3" width="52" /></colgroup>
<thead>
<tr>
<td class="xl92" colspan="12">Table 1. Overview of the World Economic Outlook Projections</td>
</tr>
<tr>
<td class="xl95" colspan="12">(Percent change unless noted otherwise)</td>
</tr>
<tr class="weo-yr">
<td class="xl63"></td>
<td class="xl94" colspan="7">Year over Year</td>
<td class="xl63"></td>
<td class="xl63"></td>
<td class="xl63"></td>
<td class="xl63"></td>
</tr>
<tr class="weo-q">
<td class="xl64"></td>
<td class="xl64"></td>
<td class="xl64"></td>
<td class="xl65"></td>
<td class="xl65"></td>
<td class="xl64"></td>
<td class="xl90"></td>
<td class="xl90"></td>
<td class="xl64"></td>
<td class="xl66" colspan="3">Q4 over Q4 2/</td>
</tr>
<tr class="weo-thead">
<td class="xl64"></td>
<td class="xl67" colspan="2">Estimate</td>
<td class="xl93" colspan="2">Projections</td>
<td class="xl64"></td>
<td class="xl67" colspan="2">Difference from April 2017 WEO Projections 1/</td>
<td class="xl64"></td>
<td class="xl67">Estimate</td>
<td class="xl93" colspan="2">Projections</td>
</tr>
</thead>
<tbody>
<tr>
<td class="xl67"></td>
<td class="xl84">2015</td>
<td class="xl84">2016</td>
<td class="xl85">2017</td>
<td class="xl85">2018</td>
<td class="xl66"></td>
<td class="xl85">2017</td>
<td class="xl85">2018</td>
<td class="xl66"></td>
<td class="xl84">2016</td>
<td class="xl85">2017</td>
<td class="xl85">2018</td>
</tr>
<tr>
<td class="xl68">World Output</td>
<td class="xl69">3.4</td>
<td class="xl69">3.2</td>
<td class="xl70">3.5</td>
<td class="xl70">3.6</td>
<td class="xl71"></td>
<td class="xl70">0.0</td>
<td class="xl70">0.0</td>
<td class="xl71"></td>
<td class="xl69">3.2</td>
<td class="xl70">3.5</td>
<td class="xl70">3.7</td>
</tr>
<tr>
<td class="xl86">Advanced Economies</td>
<td class="xl69">2.1</td>
<td class="xl69">1.7</td>
<td class="xl70">2.0</td>
<td class="xl70">1.9</td>
<td class="xl71"></td>
<td class="xl70">0.0</td>
<td class="xl70">–0.1</td>
<td class="xl71"></td>
<td class="xl69">2.0</td>
<td class="xl70">1.9</td>
<td class="xl70">1.9</td>
</tr>
<tr>
<td class="xl74">United States</td>
<td class="xl72">2.6</td>
<td class="xl72">1.6</td>
<td class="xl73">2.1</td>
<td class="xl73">2.1</td>
<td class="xl71"></td>
<td class="xl73">–0.2</td>
<td class="xl73">–0.4</td>
<td class="xl71"></td>
<td class="xl72">2.0</td>
<td class="xl73">2.0</td>
<td class="xl73">2.3</td>
</tr>
<tr>
<td class="xl74">Euro Area</td>
<td class="xl72">2.0</td>
<td class="xl72">1.8</td>
<td class="xl73">1.9</td>
<td class="xl73">1.7</td>
<td class="xl71"></td>
<td class="xl73">0.2</td>
<td class="xl73">0.1</td>
<td class="xl71"></td>
<td class="xl72">1.8</td>
<td class="xl73">1.9</td>
<td class="xl73">1.7</td>
</tr>
<tr>
<td class="xl87">Germany</td>
<td class="xl72">1.5</td>
<td class="xl72">1.8</td>
<td class="xl73">1.8</td>
<td class="xl73">1.6</td>
<td class="xl71"></td>
<td class="xl73">0.2</td>
<td class="xl73">0.1</td>
<td class="xl71"></td>
<td class="xl72">1.8</td>
<td class="xl73">1.9</td>
<td class="xl73">1.5</td>
</tr>
<tr>
<td class="xl87">France</td>
<td class="xl72">1.1</td>
<td class="xl72">1.2</td>
<td class="xl73">1.5</td>
<td class="xl73">1.7</td>
<td class="xl71"></td>
<td class="xl73">0.1</td>
<td class="xl73">0.1</td>
<td class="xl71"></td>
<td class="xl72">1.2</td>
<td class="xl73">1.7</td>
<td class="xl73">1.5</td>
</tr>
<tr>
<td class="xl87">Italy</td>
<td class="xl72">0.8</td>
<td class="xl72">0.9</td>
<td class="xl73">1.3</td>
<td class="xl73">1.0</td>
<td class="xl71"></td>
<td class="xl73">0.5</td>
<td class="xl73">0.2</td>
<td class="xl71"></td>
<td class="xl72">1.1</td>
<td class="xl73">1.1</td>
<td class="xl73">1.0</td>
</tr>
<tr>
<td class="xl87">Spain</td>
<td class="xl72">3.2</td>
<td class="xl72">3.2</td>
<td class="xl73">3.1</td>
<td class="xl73">2.4</td>
<td class="xl71"></td>
<td class="xl73">0.5</td>
<td class="xl73">0.3</td>
<td class="xl71"></td>
<td class="xl72">3.0</td>
<td class="xl73">3.0</td>
<td class="xl73">2.1</td>
</tr>
<tr>
<td class="xl74">Japan</td>
<td class="xl72">1.1</td>
<td class="xl72">1.0</td>
<td class="xl73">1.3</td>
<td class="xl73">0.6</td>
<td class="xl71"></td>
<td class="xl73">0.1</td>
<td class="xl73">0.0</td>
<td class="xl71"></td>
<td class="xl72">1.6</td>
<td class="xl73">1.2</td>
<td class="xl73">0.5</td>
</tr>
<tr>
<td class="xl74">United Kingdom</td>
<td class="xl72">2.2</td>
<td class="xl72">1.8</td>
<td class="xl73">1.7</td>
<td class="xl73">1.5</td>
<td class="xl71"></td>
<td class="xl73">–0.3</td>
<td class="xl73">0.0</td>
<td class="xl71"></td>
<td class="xl72">1.9</td>
<td class="xl73">1.4</td>
<td class="xl73">1.4</td>
</tr>
<tr>
<td class="xl74">Canada</td>
<td class="xl72">0.9</td>
<td class="xl72">1.5</td>
<td class="xl73">2.5</td>
<td class="xl73">1.9</td>
<td class="xl71"></td>
<td class="xl73">0.6</td>
<td class="xl73">–0.1</td>
<td class="xl71"></td>
<td class="xl72">2.0</td>
<td class="xl73">2.3</td>
<td class="xl73">2.0</td>
</tr>
<tr>
<td class="xl74">Other Advanced Economies 3/</td>
<td class="xl72">2.0</td>
<td class="xl72">2.2</td>
<td class="xl73">2.3</td>
<td class="xl73">2.4</td>
<td class="xl71"></td>
<td class="xl73">0.0</td>
<td class="xl73">0.0</td>
<td class="xl71"></td>
<td class="xl72">2.5</td>
<td class="xl73">2.1</td>
<td class="xl73">2.7</td>
</tr>
<tr>
<td class="xl86">Emerging Market and Developing Economies</td>
<td class="xl69">4.3</td>
<td class="xl69">4.3</td>
<td class="xl70">4.6</td>
<td class="xl70">4.8</td>
<td class="xl71"></td>
<td class="xl70">0.1</td>
<td class="xl70">0.0</td>
<td class="xl71"></td>
<td class="xl69">4.2</td>
<td class="xl70">4.9</td>
<td class="xl70">5.2</td>
</tr>
<tr>
<td class="xl74">Commonwealth of Independent States</td>
<td class="xl72">–2.2</td>
<td class="xl72">0.4</td>
<td class="xl73">1.7</td>
<td class="xl73">2.1</td>
<td class="xl71"></td>
<td class="xl73">0.0</td>
<td class="xl73">0.0</td>
<td class="xl71"></td>
<td class="xl72">0.6</td>
<td class="xl73">1.5</td>
<td class="xl73">2.0</td>
</tr>
<tr>
<td class="xl87">Russia</td>
<td class="xl72">–2.8</td>
<td class="xl72">–0.2</td>
<td class="xl73">1.4</td>
<td class="xl73">1.4</td>
<td class="xl71"></td>
<td class="xl73">0.0</td>
<td class="xl73">0.0</td>
<td class="xl71"></td>
<td class="xl72">0.3</td>
<td class="xl73">1.5</td>
<td class="xl73">1.8</td>
</tr>
<tr>
<td class="xl87">Excluding Russia</td>
<td class="xl72">–0.5</td>
<td class="xl72">1.8</td>
<td class="xl73">2.5</td>
<td class="xl73">3.5</td>
<td class="xl71"></td>
<td class="xl73">0.0</td>
<td class="xl73">0.0</td>
<td class="xl71"></td>
<td class="xl72">. . .</td>
<td class="xl73">. . .</td>
<td class="xl73">. . .</td>
</tr>
<tr>
<td class="xl74">Emerging and Developing Asia</td>
<td class="xl72">6.8</td>
<td class="xl72">6.4</td>
<td class="xl73">6.5</td>
<td class="xl73">6.5</td>
<td class="xl71"></td>
<td class="xl73">0.1</td>
<td class="xl73">0.1</td>
<td class="xl71"></td>
<td class="xl72">6.3</td>
<td class="xl73">6.6</td>
<td class="xl73">6.5</td>
</tr>
<tr>
<td class="xl87">China</td>
<td class="xl72">6.9</td>
<td class="xl72">6.7</td>
<td class="xl73">6.7</td>
<td class="xl73">6.4</td>
<td class="xl71"></td>
<td class="xl73">0.1</td>
<td class="xl73">0.2</td>
<td class="xl71"></td>
<td class="xl72">6.8</td>
<td class="xl73">6.4</td>
<td class="xl73">6.4</td>
</tr>
<tr>
<td class="xl87">India 4/</td>
<td class="xl72">8.0</td>
<td class="xl72">7.1</td>
<td class="xl73">7.2</td>
<td class="xl73">7.7</td>
<td class="xl71"></td>
<td class="xl73">0.0</td>
<td class="xl73">0.0</td>
<td class="xl71"></td>
<td class="xl72">6.0</td>
<td class="xl73">8.0</td>
<td class="xl73">7.6</td>
</tr>
<tr>
<td class="xl87">ASEAN-5 5/</td>
<td class="xl72">4.9</td>
<td class="xl72">4.9</td>
<td class="xl73">5.1</td>
<td class="xl73">5.2</td>
<td class="xl71"></td>
<td class="xl73">0.1</td>
<td class="xl73">0.0</td>
<td class="xl71"></td>
<td class="xl72">4.8</td>
<td class="xl73">5.2</td>
<td class="xl73">5.2</td>
</tr>
<tr>
<td class="xl74">Emerging and Developing Europe</td>
<td class="xl72">4.7</td>
<td class="xl72">3.0</td>
<td class="xl73">3.5</td>
<td class="xl73">3.2</td>
<td class="xl71"></td>
<td class="xl73">0.5</td>
<td class="xl73">–0.1</td>
<td class="xl71"></td>
<td class="xl72">3.3</td>
<td class="xl73">2.0</td>
<td class="xl73">4.2</td>
</tr>
<tr>
<td class="xl74">Latin America and the Caribbean</td>
<td class="xl72">0.1</td>
<td class="xl72">–1.0</td>
<td class="xl73">1.0</td>
<td class="xl73">1.9</td>
<td class="xl71"></td>
<td class="xl73">–0.1</td>
<td class="xl73">–0.1</td>
<td class="xl71"></td>
<td class="xl72">–1.3</td>
<td class="xl73">1.6</td>
<td class="xl73">2.1</td>
</tr>
<tr>
<td class="xl87">Brazil</td>
<td class="xl72">–3.8</td>
<td class="xl72">–3.6</td>
<td class="xl73">0.3</td>
<td class="xl73">1.3</td>
<td class="xl71"></td>
<td class="xl73">0.1</td>
<td class="xl73">–0.4</td>
<td class="xl71"></td>
<td class="xl72">–2.5</td>
<td class="xl73">1.5</td>
<td class="xl73">1.7</td>
</tr>
<tr>
<td class="xl87">Mexico</td>
<td class="xl72">2.6</td>
<td class="xl72">2.3</td>
<td class="xl73">1.9</td>
<td class="xl73">2.0</td>
<td class="xl71"></td>
<td class="xl73">0.2</td>
<td class="xl73">0.0</td>
<td class="xl71"></td>
<td class="xl72">2.3</td>
<td class="xl73">0.9</td>
<td class="xl73">3.2</td>
</tr>
<tr>
<td class="xl74">Middle East, North Africa, Afghanistan, and Pakistan</td>
<td class="xl72">2.7</td>
<td class="xl72">5.0</td>
<td class="xl73">2.6</td>
<td class="xl73">3.3</td>
<td class="xl71"></td>
<td class="xl73">0.0</td>
<td class="xl73">–0.1</td>
<td class="xl71"></td>
<td class="xl72">. . .</td>
<td class="xl73">. . .</td>
<td class="xl73">. . .</td>
</tr>
<tr>
<td class="xl87">Saudi Arabia</td>
<td class="xl72">4.1</td>
<td class="xl72">1.7</td>
<td class="xl73">0.1</td>
<td class="xl73">1.1</td>
<td class="xl71"></td>
<td class="xl73">–0.3</td>
<td class="xl73">–0.2</td>
<td class="xl71"></td>
<td class="xl72">2.2</td>
<td class="xl73">0.6</td>
<td class="xl73">1.4</td>
</tr>
<tr>
<td class="xl74">Sub-Saharan Africa</td>
<td class="xl72">3.4</td>
<td class="xl72">1.3</td>
<td class="xl73">2.7</td>
<td class="xl73">3.5</td>
<td class="xl71"></td>
<td class="xl73">0.1</td>
<td class="xl73">0.0</td>
<td class="xl71"></td>
<td class="xl72">. . .</td>
<td class="xl73">. . .</td>
<td class="xl73">. . .</td>
</tr>
<tr>
<td class="xl87">Nigeria</td>
<td class="xl72">2.7</td>
<td class="xl72">–1.6</td>
<td class="xl73">0.8</td>
<td class="xl73">1.9</td>
<td class="xl71"></td>
<td class="xl73">0.0</td>
<td class="xl73">0.0</td>
<td class="xl71"></td>
<td class="xl72">. . .</td>
<td class="xl73">. . .</td>
<td class="xl73">. . .</td>
</tr>
<tr>
<td class="xl87">South Africa</td>
<td class="xl72">1.3</td>
<td class="xl72">0.3</td>
<td class="xl73">1.0</td>
<td class="xl73">1.2</td>
<td class="xl71"></td>
<td class="xl73">0.2</td>
<td class="xl73">–0.4</td>
<td class="xl71"></td>
<td class="xl72">0.4</td>
<td class="xl73">1.3</td>
<td class="xl73">1.1</td>
</tr>
<tr>
<td class="xl88">Memorandum</td>
<td class="xl72"></td>
<td class="xl72"></td>
<td class="xl73"></td>
<td class="xl73"></td>
<td class="xl71"></td>
<td class="xl73"></td>
<td class="xl73"></td>
<td class="xl71"></td>
<td class="xl72"></td>
<td class="xl73"></td>
<td class="xl73"></td>
</tr>
<tr>
<td class="xl74">Low-Income Developing Countries</td>
<td class="xl72">4.6</td>
<td class="xl72">3.6</td>
<td class="xl73">4.6</td>
<td class="xl73">5.2</td>
<td class="xl71"></td>
<td class="xl73">–0.1</td>
<td class="xl73">–0.1</td>
<td class="xl71"></td>
<td class="xl72">. . .</td>
<td class="xl73">. . .</td>
<td class="xl73">. . .</td>
</tr>
<tr>
<td class="xl74">World Growth Based on Market Exchange Rates</td>
<td class="xl72">2.7</td>
<td class="xl72">2.5</td>
<td class="xl73">2.9</td>
<td class="xl73">3.0</td>
<td class="xl71"></td>
<td class="xl73">0.0</td>
<td class="xl73">0.0</td>
<td class="xl71"></td>
<td class="xl72">2.6</td>
<td class="xl73">2.8</td>
<td class="xl73">3.0</td>
</tr>
<tr>
<td class="xl75">World Trade Volume (goods and services) 6/</td>
<td class="xl69">2.6</td>
<td class="xl69">2.3</td>
<td class="xl70">4.0</td>
<td class="xl70">3.9</td>
<td class="xl71"></td>
<td class="xl70">0.2</td>
<td class="xl70">0.0</td>
<td class="xl71"></td>
<td class="xl69">. . .</td>
<td class="xl70">. . .</td>
<td class="xl70">. . .</td>
</tr>
<tr>
<td class="xl76">Advanced Economies</td>
<td class="xl72">4.0</td>
<td class="xl72">2.3</td>
<td class="xl73">3.9</td>
<td class="xl73">3.5</td>
<td class="xl71"></td>
<td class="xl73">0.2</td>
<td class="xl73">–0.1</td>
<td class="xl71"></td>
<td class="xl72">. . .</td>
<td class="xl73">. . .</td>
<td class="xl73">. . .</td>
</tr>
<tr>
<td class="xl76">Emerging Market and Developing Economies</td>
<td class="xl72">0.3</td>
<td class="xl72">2.2</td>
<td class="xl73">4.1</td>
<td class="xl73">4.6</td>
<td class="xl71"></td>
<td class="xl73">0.1</td>
<td class="xl73">0.3</td>
<td class="xl71"></td>
<td class="xl72">. . .</td>
<td class="xl73">. . .</td>
<td class="xl73">. . .</td>
</tr>
<tr>
<td class="xl75">Commodity Prices (U.S. dollars)</td>
<td class="xl72"></td>
<td class="xl72"></td>
<td class="xl73"></td>
<td class="xl73"></td>
<td class="xl71"></td>
<td class="xl73"></td>
<td class="xl73"></td>
<td class="xl71"></td>
<td class="xl72"></td>
<td class="xl73"></td>
<td class="xl73"></td>
</tr>
<tr>
<td class="xl76">Oil 7/</td>
<td class="xl72">–47.2</td>
<td class="xl72">–15.7</td>
<td class="xl73">21.2</td>
<td class="xl73">0.1</td>
<td class="xl71"></td>
<td class="xl73">–7.7</td>
<td class="xl73">0.4</td>
<td class="xl71"></td>
<td class="xl72">16.2</td>
<td class="xl73">6.2</td>
<td class="xl73">–0.8</td>
</tr>
<tr>
<td class="xl77">Nonfuel (average based on world commodity export weights)</td>
<td class="xl78">–17.5</td>
<td class="xl78">–1.8</td>
<td class="xl79">5.4</td>
<td class="xl79">–1.4</td>
<td class="xl80"></td>
<td class="xl79">–3.1</td>
<td class="xl79">–0.1</td>
<td class="xl80"></td>
<td class="xl78">9.9</td>
<td class="xl79">0.1</td>
<td class="xl79">0.1</td>
</tr>
<tr>
<td class="xl75">Consumer Prices</td>
<td class="xl72"></td>
<td class="xl72"></td>
<td class="xl73"></td>
<td class="xl73"></td>
<td class="xl71"></td>
<td class="xl73"></td>
<td class="xl73"></td>
<td class="xl71"></td>
<td class="xl72"></td>
<td class="xl73"></td>
<td class="xl73"></td>
</tr>
<tr>
<td class="xl76">Advanced Economies</td>
<td class="xl72">0.3</td>
<td class="xl72">0.8</td>
<td class="xl73">1.9</td>
<td class="xl73">1.8</td>
<td class="xl71"></td>
<td class="xl73">–0.1</td>
<td class="xl73">–0.1</td>
<td class="xl71"></td>
<td class="xl72">1.2</td>
<td class="xl73">1.7</td>
<td class="xl73">2.0</td>
</tr>
<tr>
<td class="xl76">Emerging Market and Developing Economies 8/</td>
<td class="xl72">4.7</td>
<td class="xl72">4.3</td>
<td class="xl73">4.5</td>
<td class="xl73">4.6</td>
<td class="xl71"></td>
<td class="xl73">–0.2</td>
<td class="xl73">0.2</td>
<td class="xl71"></td>
<td class="xl72">3.7</td>
<td class="xl73">4.0</td>
<td class="xl73">3.9</td>
</tr>
<tr>
<td class="xl75">London Interbank Offered Rate (percent)</td>
<td class="xl72"></td>
<td class="xl72"></td>
<td class="xl73"></td>
<td class="xl73"></td>
<td class="xl71"></td>
<td class="xl73"></td>
<td class="xl73"></td>
<td class="xl71"></td>
<td class="xl72"></td>
<td class="xl73"></td>
<td class="xl73"></td>
</tr>
<tr>
<td class="xl76">On U.S. Dollar Deposits (six month)</td>
<td class="xl72">0.5</td>
<td class="xl72">1.1</td>
<td class="xl73">1.6</td>
<td class="xl73">2.2</td>
<td class="xl71"></td>
<td class="xl73">–0.1</td>
<td class="xl73">–0.6</td>
<td class="xl71"></td>
<td class="xl72">. . .</td>
<td class="xl73">. . .</td>
<td class="xl73">. . .</td>
</tr>
<tr>
<td class="xl76">On Euro Deposits (three month)</td>
<td class="xl72">–0.0</td>
<td class="xl72">–0.3</td>
<td class="xl73">–0.3</td>
<td class="xl73">–0.2</td>
<td class="xl71"></td>
<td class="xl73">0.0</td>
<td class="xl73">0.0</td>
<td class="xl71"></td>
<td class="xl72">. . .</td>
<td class="xl73">. . .</td>
<td class="xl73">. . .</td>
</tr>
<tr>
<td class="xl81">On Japanese Yen Deposits (six month)</td>
<td class="xl82">0.1</td>
<td class="xl82">0.0</td>
<td class="xl83">0.0</td>
<td class="xl83">0.1</td>
<td class="xl71"></td>
<td class="xl83">0.0</td>
<td class="xl83">0.1</td>
<td class="xl71"></td>
<td class="xl72">. . .</td>
<td class="xl83">. . .</td>
<td class="xl83">. . .</td>
</tr>
<tr>
<td class="xl89" colspan="12">Source: IMF</td>
</tr>
</tbody>
</table>
&#8220;In Sub-Saharan Africa, the outlook remains challenging. Growth is 
projected to rise in 2017 and 2018, but will barely return to positive territory 
in per capita terms this year for the region as a whole&#8211;and would remain 
negative for about a third of the countries in the region,&#8221; the IMF said.
&#8220;The slight upward revision to 2017 growth relative to the April 2017 WEO 
forecast reflects a modest upgrading of growth prospects for South Africa, 
which is experiencing a bumper crop due to better rainfall and an increase in 
mining output prompted by a moderate rebound in commodity prices. 
However, the outlook for South Africa remains difficult, with elevated political 
uncertainty and weak consumer and business confidence, and the country&#8217;s 
growth forecast was consequently marked down for 2018.&#8221;
The IMF also added that global growth will be aided by growth in the US and 
the UK, who are projected to grow at 2.1% and 1.5%, respectively. 
&#8220;China&#8217;s growth projections have also been revised up (6.7%), reflecting a 
strong first quarter of 2017 and expectations of continued fiscal support. 
Inflation in advanced economies remains subdued and generally below 
targets; it has also been declining in several emerging economies, such as 
Brazil, India, and Russia.&#8221;
The IMF mentioned the risks threatening the strength and durability of the 
recovery such as election related risk, political uncertainty, failure to lift 
potential growth and make growth more inclusive and rising geopolitical 
tensions, among others. With the help of resilient global growth, we believe 
that both Nigeria and South Africa have the potential to grow above the 
forecast, assuming that appropriate policies are implemented to lessen 
some of the risks mentioned above.

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World Economic Outlook

Here is how IMF’s economists make predictions

IMF projects 3.2% economic growth for SSA in 2019

This African nation has the fastest growing economy in the world

The IMF has altered its outlook on Africa, this is what’s changed

Both these economies are in recession but Nigeria’s will grow faster than SA’s in 2018

News Tips

Advertise With Us

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