"Savings from oil revenues could help Africa’s producers manage price swings"

" Savings from oil revenues could help Africa's producers manage price swings \r\n Oil exporters in sub-Saharan Africa should target buffers of around 5 to 10 percent of gross domestic product to manage large swings in oil prices. For many countries, this means they will need to maintain\u00a0<a href=\"https:\/\/lnks.gd\/l\/eyJhbGciOiJIUzI1NiJ9.eyJidWxsZXRpbl9saW5rX2lkIjoxMDUsInVyaSI6ImJwMjpjbGljayIsImJ1bGxldGluX2lkIjoiMjAyMjEyMjEuNjg2MDQ5NzEiLCJ1cmwiOiJodHRwczovL3d3dy5pbnZlc3RvcGVkaWEuY29tL3Rlcm1zL2IvYnVkZ2V0LXN1cnBsdXMuYXNwP3V0bV9tZWRpdW09ZW1haWwmdXRtX3NvdXJjZT1nb3ZkZWxpdmVyeSJ9.ufsFmjdhyBj3DMthXDJBA9G_SM7Mm77yxr_gGS5Hb2Q\/s\/1181822789\/br\/150988092053-l\" target=\"_blank\" rel=\"noopener noreferrer\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/lnks.gd\/l\/eyJhbGciOiJIUzI1NiJ9.eyJidWxsZXRpbl9saW5rX2lkIjoxMDUsInVyaSI6ImJwMjpjbGljayIsImJ1bGxldGluX2lkIjoiMjAyMjEyMjEuNjg2MDQ5NzEiLCJ1cmwiOiJodHRwczovL3d3dy5pbnZlc3RvcGVkaWEuY29tL3Rlcm1zL2IvYnVkZ2V0LXN1cnBsdXMuYXNwP3V0bV9tZWRpdW09ZW1haWwmdXRtX3NvdXJjZT1nb3ZkZWxpdmVyeSJ9.ufsFmjdhyBj3DMthXDJBA9G_SM7Mm77yxr_gGS5Hb2Q\/s\/1181822789\/br\/150988092053-l&source=gmail&ust=1671764636558000&usg=AOvVaw3TYccrF3kv6ltMldGCWUgp\">annual fiscal surpluses \u00a0up to 1 percent per annum over a 10-year period. \r\n As noted in our latest\u00a0<a href=\"https:\/\/lnks.gd\/l\/eyJhbGciOiJIUzI1NiJ9.eyJidWxsZXRpbl9saW5rX2lkIjoxMDYsInVyaSI6ImJwMjpjbGljayIsImJ1bGxldGluX2lkIjoiMjAyMjEyMjEuNjg2MDQ5NzEiLCJ1cmwiOiJodHRwczovL3d3dy5pbWYub3JnL2VuL1B1YmxpY2F0aW9ucy9SRU8vU1NBL0lzc3Vlcy8yMDIyLzEwLzE0L3JlZ2lvbmFsLWVjb25vbWljLW91dGxvb2stZm9yLXN1Yi1zYWhhcmFuLWFmcmljYS1vY3RvYmVyLTIwMjI_dXRtX21lZGl1bT1lbWFpbCZ1dG1fc291cmNlPWdvdmRlbGl2ZXJ5I01hbmFnaW5nLU9pbC1QcmljZS1VbmNlcnRhaW50eS1hbmQtdGhlLUVuZXJneS1UcmFuc2l0aW9uIn0.tx7XyvU_Iq418mC486q3d6un1rD5oXpAgmpTt2hNt10\/s\/1181822789\/br\/150988092053-l\" target=\"_blank\" rel=\"noopener noreferrer\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/lnks.gd\/l\/eyJhbGciOiJIUzI1NiJ9.eyJidWxsZXRpbl9saW5rX2lkIjoxMDYsInVyaSI6ImJwMjpjbGljayIsImJ1bGxldGluX2lkIjoiMjAyMjEyMjEuNjg2MDQ5NzEiLCJ1cmwiOiJodHRwczovL3d3dy5pbWYub3JnL2VuL1B1YmxpY2F0aW9ucy9SRU8vU1NBL0lzc3Vlcy8yMDIyLzEwLzE0L3JlZ2lvbmFsLWVjb25vbWljLW91dGxvb2stZm9yLXN1Yi1zYWhhcmFuLWFmcmljYS1vY3RvYmVyLTIwMjI_dXRtX21lZGl1bT1lbWFpbCZ1dG1fc291cmNlPWdvdmRlbGl2ZXJ5I01hbmFnaW5nLU9pbC1QcmljZS1VbmNlcnRhaW50eS1hbmQtdGhlLUVuZXJneS1UcmFuc2l0aW9uIn0.tx7XyvU_Iq418mC486q3d6un1rD5oXpAgmpTt2hNt10\/s\/1181822789\/br\/150988092053-l&source=gmail&ust=1671764636558000&usg=AOvVaw2Yqde20HZSKIH9XbEtwatW\">Regional Economic Outlook , oil prices have fluctuated from lows of $23 per barrel to a peak of $120 over the last two years, resulting in highly uncertain revenues in oil-dependent economies. However, most oil exporters in the region haven\u2019t accumulated enough savings to insure against unpredictable oil price changes. In fact, sovereign wealth funds in sub-Saharan Africa hold assets of just 1.8 percent of gross domestic product\u2014compared to 72 percent in the\u00a0<a href=\"https:\/\/lnks.gd\/l\/eyJhbGciOiJIUzI1NiJ9.eyJidWxsZXRpbl9saW5rX2lkIjoxMDcsInVyaSI6ImJwMjpjbGljayIsImJ1bGxldGluX2lkIjoiMjAyMjEyMjEuNjg2MDQ5NzEiLCJ1cmwiOiJodHRwczovL3d3dy5pbWYub3JnL2VuL1B1YmxpY2F0aW9ucy9SRU8vTUVDQS9Jc3N1ZXMvMjAyMi8xMC8xMy9yZWdpb25hbC1lY29ub21pYy1vdXRsb29rLW1jZC1vY3RvYmVyLTIwMjI_dXRtX21lZGl1bT1lbWFpbCZ1dG1fc291cmNlPWdvdmRlbGl2ZXJ5In0.CbiZgv15SWFsVVaqUrZQSlYVOk4tWk8FuXG2lH7PQbg\/s\/1181822789\/br\/150988092053-l\" target=\"_blank\" rel=\"noopener noreferrer\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/lnks.gd\/l\/eyJhbGciOiJIUzI1NiJ9.eyJidWxsZXRpbl9saW5rX2lkIjoxMDcsInVyaSI6ImJwMjpjbGljayIsImJ1bGxldGluX2lkIjoiMjAyMjEyMjEuNjg2MDQ5NzEiLCJ1cmwiOiJodHRwczovL3d3dy5pbWYub3JnL2VuL1B1YmxpY2F0aW9ucy9SRU8vTUVDQS9Jc3N1ZXMvMjAyMi8xMC8xMy9yZWdpb25hbC1lY29ub21pYy1vdXRsb29rLW1jZC1vY3RvYmVyLTIwMjI_dXRtX21lZGl1bT1lbWFpbCZ1dG1fc291cmNlPWdvdmRlbGl2ZXJ5In0.CbiZgv15SWFsVVaqUrZQSlYVOk4tWk8FuXG2lH7PQbg\/s\/1181822789\/br\/150988092053-l&source=gmail&ust=1671764636558000&usg=AOvVaw088PH05xc-mSmPRcFb3b5I\">Middle East and North Africa \u2014forcing countries to borrow or draw down financial assets when oil prices fall. \r\n As a result, in the decade through 2020, the region\u2019s oil producers have grown over 2 percentage points slower per year than non-resource intensive countries. Debt service costs have also been almost twice as high than in other sub-Saharan African countries. \r\n Moreover, as countries transition to low-carbon energy sources, oil revenues could sharply decline. By 2030, oil revenues in the region could fall by as much as a quarter and by 2050, by half. Building buffers now would help the region\u2019s oil exporters navigate the transition toward clean energy while managing oil price fluctuations. \r\n<a href=\"https:\/\/lnks.gd\/l\/eyJhbGciOiJIUzI1NiJ9.eyJidWxsZXRpbl9saW5rX2lkIjoxMDgsInVyaSI6ImJwMjpjbGljayIsImJ1bGxldGluX2lkIjoiMjAyMjEyMjEuNjg2MDQ5NzEiLCJ1cmwiOiJodHRwczovL3d3dy5pbWYub3JnL2VuL05ld3MvQXJ0aWNsZXMvMjAyMi8xMi8xOS9jZi1zYXZpbmdzLWZyb20tY3J1ZGUtcHJpY2VzLWNvdWxkLWhlbHAtYWZyaWNhcy1vaWwtcHJvZHVjZXJzLW1hbmFnZS1wcmljZS1zd2luZ3M_dXRtX21lZGl1bT1lbWFpbCZ1dG1fc291cmNlPWdvdmRlbGl2ZXJ5In0.KqbqK-ezZWWCSMu8AGkjGNtqNpuDnnwWGBudGTWPmiw\/s\/1181822789\/br\/150988092053-l\" target=\"_blank\" rel=\"noopener noreferrer\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/lnks.gd\/l\/eyJhbGciOiJIUzI1NiJ9.eyJidWxsZXRpbl9saW5rX2lkIjoxMDgsInVyaSI6ImJwMjpjbGljayIsImJ1bGxldGluX2lkIjoiMjAyMjEyMjEuNjg2MDQ5NzEiLCJ1cmwiOiJodHRwczovL3d3dy5pbWYub3JnL2VuL05ld3MvQXJ0aWNsZXMvMjAyMi8xMi8xOS9jZi1zYXZpbmdzLWZyb20tY3J1ZGUtcHJpY2VzLWNvdWxkLWhlbHAtYWZyaWNhcy1vaWwtcHJvZHVjZXJzLW1hbmFnZS1wcmljZS1zd2luZ3M_dXRtX21lZGl1bT1lbWFpbCZ1dG1fc291cmNlPWdvdmRlbGl2ZXJ5In0.KqbqK-ezZWWCSMu8AGkjGNtqNpuDnnwWGBudGTWPmiw\/s\/1181822789\/br\/150988092053-l&source=gmail&ust=1671764636558000&usg=AOvVaw1GJxl2jF1nFctlN5Nb-pO1\"><img class=\"CToWUd\" src=\"https:\/\/ci3.googleusercontent.com\/proxy\/yx9CCVaJYa_zDPqpzuhnXvtXA5C3p1xTm184fFDlkMKa8VsYDBZkbguu628xX5ZKD2f5PhonKnGg-zLh7orfVQeqmxNXIZJQOn1VwAhENCwTz6pvSjSrcaHPy-7a69WFL8fzKO5TMhPD0zpCuxoIxi73EezWD7ewQTcMUeuokM8=s0-d-e1-ft#https:\/\/content.govdelivery.com\/attachments\/fancy_images\/USIMF\/2022\/12\/6906472\/ssa-country-focus_original.png\" alt=\"infographic\" width=\"538\" height=\"1170\" data-bit=\"iit\" \/> "

"Savings from oil revenues could help Africa’s producers manage price swings"

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