Primary commodities dominate African exports, yet these products are extremely vulnerable to variations in weather conditions, world demand and prices. If the continent is to obtain optimum benefit from the integration and opening of the world economy, this heavy reliance on primary products...

This Selected Issues paper estimates the macroeconomic impact of these discoveries and discusses potential fiscal frameworks for managing related revenues. Pre-production investment (2019-2021) will lead to an increase in the current account deficit; however, this will be followed by a boost to...