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Recent developments
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| Global Development Finance 2009: Sub-Saharan Africa |
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Although many countries in Sub-Saharan Africa have only weak links to international financial markets and relatively small manufacturing sectors.
The financial crisis had immediate consequences for countries in Sub-Saharan Africa.
Output and incomes in the region have been negatively affected by falling commodity prices, falling volume demand for metal and mineral exports, and declining remittances and tourism.
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Sub-Saharan Africa regional note
Published June 22, 2009
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| Bond spreads in Sub-Saharan Africa widened sharply in the wake of the global financial crisis |
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Basis points
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Source: JP Morgan-Chase.
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| Terms of trade losses since July have been significant in some countries as commodity prices plunged |
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Terms of trade impact of changes in international prices between July 2008 and May 2009 (percent of 2008 GDP)
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Source: World Bank.
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| External trade and private consumption deteriorated markedly in the fourth quarter of 2008 in South Africa |
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Annual growth, percent
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Source: South Africa Reserve Bank.
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