The oil slump

A double-sided coin for Africa: a cash flow problem for exporting countries has advantages for importers but stalls countries’ oil production programmes.

A single percentage point of difference in the gross domestic product (GDP) for the entire sub-Saharan Africa is the price that the region that currently boasts the second fastestgrowing economy in the world will pay in 2015 because of the recent unparalleled drop in oil prices on international markets in recent months. This was reported by the International Monetary Fund (IMF), which in January lowered its estimates for economic growth for the sub-Saharan African countries, from 5.8% in October 2014 to the current 4.9%.

Oil revenues comprise a fundamental portion of the budgets of many of the African economies that have posted the most interesting macro-economic statistics of recent years and have helped to increase growth averages for entire regions.
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