United Nations Economic Commission for Africa
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Africa Sovereign Credit Rating Review 9th edition: 2024 mid-year outlook
This report analyses the long-term foreign currency sovereign credit rating actions in Africa with a predominant focus on the three dominant international credit rating agencies (CRAs) – Moody’s Investors Service, Fitch Ratings and S&P Global (S&P) in the first half of 2024 (2024H1). It presents a comparative analysis of the consistency in application of methodologies and rating services between Africa and other regions and makes recommendations to CRAs and African governments on how credit ratings can be improved
2024 publications catalogue
The 2024 edition of the ECA Publications Catalogue features reports and studies that will be made available over the course of the year. The publications featured in the Catalogue are organized into the following five color-coded categories. These are ECA flagship publication, special thematic publications, thematic headline publications, geographic headline publications, policy briefs and reports of the work of ECA
Medium-term business plan 2024-2026
ECA’s mission is to deliver ideas and actions for an empowered, prosperous, and transformed Africa, informed by the 2030 Agenda and Agenda 2063. ECA’s dual role as a regional arm of the United Nations and a key component of the institutional landscape in Africa positions it to effectively address the continent’s development challenges support Africa’s agency and advance achievement of the 2030 Agenda and Agenda 2063 targets. ECA provides a strategic link between global guidance and policy and country-level action and provides multistakeholder and intergovernmental platforms for substantive and multidisciplinary debates on the SDGs and their implementation. ECA also offers unique integrated platforms that provide visibility to cross-border and transboundary issues, mobilizing other region-based entities such as the African Union and its regional economic communities for accelerated action to achieve the 2030 Agenda and Agenda 2063 targets. This Medium-Term Business Plan for 2024–2026 describes our strategic orientation and explains how we plan to respond to this call over the next three years. Our work aims to support the emergence of Africa as a global solutions powerhouse for energy transitions, climate action and investment for sustainable development and shared prosperity for all. ECA will deliver strategic policy options and initiatives to promote Africa’s transformation and rescue the SDGs by creating a school of thought and practice around four strategic focus areas: macroeconomic and social policy and development financing for sustainable transitions; sustainable industrialization and economic diversification through regional integration; infrastructure with a particular focus on technology, connectivity and energy; and climate resilience, green transition and food security. We will engage in these efforts in ways that strengthens Africa’s agency and leadership for transformation
Function and composition of the Bureau of the Africa Regional Forum on Sustainable Development
This report is about the Africa Regional Forum on Sustainable Development is an annual, intergovernmental, multi-stakeholder platform, organized jointly by the Economic Commission for Africa (ECA) and one of its members that has volunteered to host the Forum, in collaboration with the African Union Commission, the African Development Bank and various entities of the United Nations system. It brings together ministers, senior officials, experts and practitioners from members of ECA, the private sector, civil society, academic institutions and United Nations entities. The overall objective of the Regional Forum is to follow up on and review the progress made towards the achievement of the Sustainable Development Goals of the 2030 Agenda for Sustainable Development and the aspirations, goals and targets of Agenda 2063: The Africa We Want, of the African Union. It is also intended to facilitate peer learning and promote transformative solutions and action to accelerate the implementation of the two agendas
AfCFTA National Implementation Strategy: Kingdom of Eswatini 2024 – 2028
The Kingdom of Eswatini has always adopted a liberal approach to trade and investment being one of the most open and trade dependent economies in the world. The country’s industrial policy and FDI strategy has always targeted export-oriented enterprises, owing to its small domestic market. The structure of Eswatini’s economy is dominated by the service sector which accounted for 52 per cent of total value added in 2021, compared to 43 per cent in 2010. The immediate focus for Eswatini is to take advantage of preferential access to the African market under the AfCFTA. This entails maximizing the sectors where the country currently possesses competitive strength, whilst putting the building blocks that will allow for increased volumes and diversity of exports in both goods and services. The Eswatini AfCFTA Implementation Strategy is “To provide a strategic roadmap for Eswatini to maximize the country’s benefits under the AfCFTA targeting an annual regional export growth of at least 10 per cent”. The strategy is based on seven strategic objectives : Increase and diversify local production for AfCFTA markets in priority sectors, Develop MSMEs export readiness programs targeting AfCFTA markets, Improve access to development finance to encourage exports, Improve border management coordination at domestic and bilateral levels, Increase sector specific support for AfCFTA prioritized and other identified sectors in trade in goods, Prioritize business climate improvements, Develop a competitive services sector to attract investment and diversify exports. The key objective of the AfCFTA national strategy is to complement a broader development framework, especially in relation to the trade policy environment of Eswatini to the AfCFTA Agreement. The national strategy will facilitate the identification of regional value chains that can be exploited, maximizing value addition, identifying trade opportunities and constraints, including measures and capacities required to take full advantage of national, regional, and global markets for both goods and services within the context of AfCFTA
Rapport sur les progrès accomplis dans la réalisation des objectifs de développement durable en Afrique
Le présent rapport passe en revue les principales difficultés rencontrées dans la réalisation des Objectifs de développement durable en Afrique depuis la huitième session de la Commission africaine de statistique, tenue en octobre 2022, ainsi que les initiatives en cours, les possibilités offertes, les enseignements tirés et les efforts déployés en ce qui concerne le suivi des progrès accomplis à cet égard. L’objectif du présent rapport est de cerner et de mettre en évidence les principaux obstacles au suivi des Objectifs de développement durable et à l’établissement de rapports à leur sujet, ainsi que les principales initiatives entreprises pour combattre et atténuer les effets produits par ces obstacles en Afrique au cours des deux dernières années, comme indiqué dans les examens nationaux volontaires
Dévaluations des taux de change et gestion de la dette extérieure en Afrique
Le recours à la dévaluation du taux de change est récemment réapparu comme un outil de stabilisation pour corriger les déséquilibres macroéconomiques dans les pays en développement, comme ce fut le cas dans le cadre des programmes d’ajustement structurel au moment de la crise de la dette des années 80. Des politiques actives de taux de change sont de plus en plus utilisées pour stimuler l’activité économique et protéger les vies et les moyens de subsistance des conséquences des récentes crises économiques. Dans le même temps, la dette publique est également réapparue comme l’une des questions au centre du débat économique et politique en Afrique, les gouvernements ayant recommencé à s’endetter pour investir dans les infrastructures et les dépenses sociales, dans le cadre des efforts déployés pour se remettre des effets des récents chocs économiques. Malgré l’importance actuelle des questions de gestion de la dette et de dépréciation du taux de change, très peu
d’études empiriques récentes se sont penchées sur la relation entre ces fondamentaux économiques. L’objectif principal du présent document est donc d’examiner dans quelle mesure la dépréciation du taux de change affecte la dette extérieure en Afrique, à court et à long terme, en tenant compte des régimes de taux de change et de l’intensité des ressources naturelles des pays. L’étude applique la méthode de cointégration des données de panel en estimant le modèle autorégressif à retards échelonnés, afin de permettre l’évaluation des effets à court et à long terme de l’évolution des taux de change sur la dette extérieure. Les résultats indiquent que dans les pays où les régimes de change sont relativement fixes, la dévaluation est plus susceptible d’entraîner une réduction du fardeau de la dette extérieure, tandis que dans les pays où les régimes de change sont flottants, la dévaluation est plus susceptible d’accroître l’impact des exportations sur la réduction de la dette extérieure. Dans une certaine mesure, les résultats suggèrent que les taux de change flottants ne fonctionnent peut-être pas à leurs niveaux optimaux pour assurer un impact négatif significatif de la dévaluation du taux de change sur la dette extérieur
Draft report of the subcommittee of TEPCOW on the African alternative to structural adjustment programmes
The subcommittee in accordance with the directives of the plenary decided to have as its chairman the second vice chairman of TEPCOW(Congo). The subcommittee elected Tanzania as rapporteur. The subcommittee was attended by the core members designated by the plenary namely Congo, Egypt, Ethiopia, Guinea, Kenya, Senegal, Tanzania, Uganda, Zaire, Zambia, Malawi, Mail, Mauritania, Morocco Nigeria, and Zimbabwe. Many other delegations also participated the subcommittee focused on the terms of reference given to it by the plenary namely to enrich the document
Study on cryptocurrencies and crypto-assets in Eastern Africa
A currency is defined as a medium of exchange for goods and services. In other words, it serves as a means of payment, a store of value, and a unit of account. It is generally issued by a government, circulated within its jurisdiction, and accepted as official means of payment in the country of issuance. From the barter economy to the current modern economy, the currency has significantly evolved. In a barter economy, there was no physical currency. The payment for any traded goods and services was done with physical exchange with other types of goods and services. Over the past decades, electronic forms of payments have gradually replaced physical or hard currencies. The development of technology with electronic payments combined with the lack of confidence in the financial system following the 2008-2009 financial crisis has pushed for a new form of currency called cryptocurrency or virtual currency. The increasing use of cryptocurrencies, which are mostly unregulated private assets out of the control of governments and central banks, poses some issues, risks, and threats to the economy and the stability of the global financial system. After the introduction of the report, the first part will focus on some definitions and generalities of cryptocurrencies and crypto assets as well as the evolution of cryptocurrencies worldwide. The second part will review and analyses the current state of cryptocurrencies in Eastern Africa, where conditions, opportunities, and challenges of cryptocurrency implementation in the region will be discussed. The last part will conclude the report by providing policy recommendations
Strategies de mise en œuvre de la zlecaf: rapport de synthèse
Ce rapport a analysé et mis en évidence les résultats des stratégies de mise en œuvre de la ZLECAf adoptées, y compris les voies stratégiques et les actions prioritaires identifiées par les pays. Tout au long de la synthèse, l’objectif a été d’illustrer comment les actions et les objectifs stratégiques identifiés par les États parties, ainsi que leurs implications, peuvent favoriser un écosystème favorable à la maximisation des avantages de l’accord continental