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External Sustainability of Oil-Producing Sub-Saharan African Countries

August 28, 2011 Comments off

External Sustainability of Oil-Producing Sub-Saharan African Countries
Source: International Monetary Fund

In the extensive empirical work carried out across the IMF on oil-producing sub-Saharan African (SSA) countries, the notion of “sustainability” is often directed toward fiscal policies, and, in particular, views on the “optimal” non-oil primary fiscal deficit. The bulk of this work does not, however, address external sustainability, which is a concern especially for those SSA oil producers operating under a fixed exchange rate regime. A couple of recent papers have extended the existing methodologies to assess external sustainability for some oil-producing countries but they do not focus on those in sub-Saharan Africa. In this paper, we bolster this empirical work by providing a range of estimates for the long-run external current external account balance for each of the SSA oil-producing countries, based on three widely used methodologies in the IMF. Our research strategy is to apply these models to the eight countries in the subregion – Angola, Cameroon, Chad, Côte d’Ivoire, Equatorial Guinea, Gabon, Nigeria, and the Republic of Congo – using similar simplifying assumptions so that we are using the same lens to view how they do and do not differ.

+ Full Paper (PDF)

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Country Specific Information: Cameroon

August 21, 2011 Comments off

Country Specific Information: Cameroon
Source: U.S. Department of State

August 12, 2011

COUNTRY DESCRIPTION: Cameroon is a developing country in central Africa that offers many natural and cultural attractions, but lacks modern tourism facilities. The busy port and commercial center of Douala, its largest city, contrasts with the relative calm of inland Yaounde, the capital. Cameroon is officially bilingual. French dominates as the language of education and government in all regions except the southwest and northwest, where English is widely spoken. Most educated people and staff at major hotels speak both languages. In February 2008, social and political discord led to civil unrest; however, since that time the country has experienced relative stability and peace. Crime continues to be a significant concern throughout Cameroon. National elections are expected to be held in late 2011. For general information on Cameroon, read the Department of State Background Notes on Cameroon.

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