International Jobs Report: Update 2016

“It was the best of times, it was the worst of times.” With these words Charles Dickens opens his novel “A Tale of Two Cities”. Winners and losers in a “tale of two commodities” may one day look back with similar reflections, as prices of metals and oil have seen some seismic shifts in recent weeks, months and years. This blog seeks to explain how demand — but also supply and financial market conditions — are affecting metals prices. We will show some contrast with oil, where suppl ...

Sub-Saharan Africa’s trade flows increased sharply, multiplying by a factor of five over the past 20 years. Is this boom built on commodities only?  My answer is no ! Many countries have increased their integration in global value chains. But, it is also clear that sub-Saharan Africa still has some way to go. Increased trade boosts for growth Over the last two decades, the export-to-GDP ratio in sub-Saharan Africa increased from 20½ percent in 1995 to 27½ percent in 2013. This occ ...

Les fonds souverains, objet de toutes les attentions au cours des années 2000, devraient voir leur rôle de « stabilisateur » de l’économie se renforcer dans les mois à venir, en raison de la chute du prix des matières premières. Ces véhicules d’investissement doivent cependant être coordonnés avec les outils traditionnels de la politique fiscale et ne peuvent affranchir les pouvoirs publics d’effectuer à plus ou moins long terme les ajustements budgétaires que ce nouvel environnemen ...

The African endowment in mineral resources is well known and has often been a mixed blessing, according to the socalled “natural resources curse”. Bauxite, an ore that serves as a feedstock for aluminium production, is particularly present in Guinean soil but, notwithstanding its efforts to do so, this country has not yet succeeded in transforming this red treasure into a real source of social and economic development. Despite the difficult economic context and a long road ahead, th ...