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Miss Mahvash S Qureshi
This paper examines the structural competitiveness of oil-rich economies in sub-Saharan Africa relative to other major oil-exporting developing countries, and investigates reasons for systematic differences in the non-oil export performance across these economies. The analysis reveals that oil-rich Africa lags behind other oil-exporters in terms of diversification, global market share and the overall investment climate. The poor performance of their nonoil sector can be largely attributed to weak infrastructure and institutional quality. The results also show that institutional quality is a significant determinant of the extent to which oil abundance affects the competitiveness of the non-oil sector; thereby explaining the divergent experiences of oil-rich economies across the world. This implies that oil wealth does not necessarily weaken the non-oil tradable sector; countries may mitigate the impact of Dutch disease and benefit from oil booms if revenues are used prudently to reduce oil dependence.
Mr. Amadou N Sy, Mr. Rodolfo Maino, Mr. Alexander Massara, Hector Perez-Saiz, and Preya Sharma
FinTech is a major force shaping the structure of the financial industry in sub-Saharan Africa. New technologies are being developed and implemented in sub-Saharan Africa with the potential to change the competitive landscape in the financial industry. While it raises concerns on the emergence of vulnerabilities, FinTech challenges traditional structures and creates efficiency gains by opening up the financial services value chain. Today, FinTech is emerging as a technological enabler in the region, improving financial inclusion and serving as a catalyst for the emergence of innovations in other sectors, such as agriculture and infrastructure.
Miss Mahvash S Qureshi

This paper examines the structural competitiveness of oil-rich economies in sub-Saharan Africa relative to other major oil-exporting developing countries, and investigates reasons for systematic differences in the non-oil export performance across these economies. The analysis reveals that oil-rich Africa lags behind other oil-exporters in terms of diversification, global market share and the overall investment climate. The poor performance of their nonoil sector can be largely attributed to weak infrastructure and institutional quality. The results also show that institutional quality is a significant determinant of the extent to which oil abundance affects the competitiveness of the non-oil sector; thereby explaining the divergent experiences of oil-rich economies across the world. This implies that oil wealth does not necessarily weaken the non-oil tradable sector; countries may mitigate the impact of Dutch disease and benefit from oil booms if revenues are used prudently to reduce oil dependence.

Mr. Marc G Quintyn and Mr. Michael W Taylor

. Conclusions References Tables Table 1. Sub-Saharan Africa: Relative Importance of Segments in the Financial Systems of Selected Countries Table 2. Sub-Saharan Countries: Financial Sector Supervisory Structures in Selected Countries Table 3. Supervisory Models in SSA—Overview Table 4. Overview of Advantages and Disadvantages of Selected Supervisory Structures

Hector Perez-Saiz and Preya Sharma

lowering trading costs. There is a need to balance the trade-off between the benefits that FinTech technologies may generate and potential added risks and vulnerabilities. Given the lower levels of financial inclusion, bank competition, and macrofinancial linkages in sub-Saharan Africa relative to other regions, regulators and central banks could potentially benefit from considering FinTech as a leapfrogging opportunity to foster inclusive economic growth and development. At the same time, these new technologies and business models present new risks that would need to

International Monetary Fund. African Dept.

. Sub-Saharan Africa: Credit and Debit cards in Circulation, 2011 5. Sub-Saharan Africa: Electronic Payments Used to Make Payments, 2011 6. Sub-Saharan Africa: Mobile Phone Usage, 2011 7. Selected Doing Business Indicators, 2005–14 8. Sub-Saharan Africa: Selected Indicators on Financial Sector Depth, 1996–2012 9. Sub-Saharan Africa: Selected Indicators on Financial Sector Breadth and Efficiency, 1996–2012 10. Sub-Saharan Africa: Selected Profitability Indicators, 2002–12 11. Selected Indicators on Financial Sector Inclusiveness, 2002–12 12. Sub-Saharan

International Monetary Fund. African Dept.

percent of GDP, compared with a strong surplus the previous year. On the spending side, Lesotho is faced with an extraordinarily high government wage bill—the highest in sub-Saharan Africa (relative to GDP)—which to some extent crowds out public investment projects needed to promote inclusive growth under the National Strategic Development Plan (NSDP). Executive Board Assessment 2 Executive Directors commended Lesotho’s robust economic growth with moderate inflation, and welcomed the recovery of international reserves on the back of a period of fiscal adjustment