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African Economic Outlook 2005

image of African Economic Outlook 2005

The African Economic Outlook, a joint project of the African Development Bank and the OECD Development Centre, is an annual review of the recent economic situation and the likely short-term evolution of selected African countries. 

The analysis is presented on a country-by-country basis using a unique analytical design.  This common framework includes a forecasting exercise for the current and the two following years using a simple macroeconomic model, together with an analysis of the social and political context.  It also contains a comparative synthesis of African country prospects, placing the evolution of African economies in the world economic context.  A statistical appendix completes the volume.

"OECD has prepared a thorough report on the economic situation in Africa."

-Julius Coles, President, Africare

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Gabon

OECD Development Centre

IN MAY 2004, AFTER TWO YEARS of negotiations with the IMF and on completing its efforts to make structural adjustments and settle its external debt, Gabon obtained a 14-month stand-by agreement with the IMF. Domestic debt to the private sector piled up in 2002 and 2003, however, leading to a deterioration in companies’ cash positions and to job losses in some sectors. During the same period, the non-oil sector, which is heavily...

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