According to the report on the Regional Economic Outlook: sub-Saharan Africa, released Thursday by the International Monetary Fund (IMF) in Washington, Cabo Verde will be the country with the highest growth this year (5.8 percent), but was also the one that had the biggest recession last year, with a historic drop of 14 percent.
Equatorial Guinea, which has been in recession since 2016 and is expected to have negative economic growth again next year, is the second best performing economy among African Lusophone economies, expected to grow 4 percent this year, according to the Fund.
With regard to the ratio of public debt to Gross Domestic Product (GDP), one of the most used indicators to assess the financial capacity of countries taking into account the growth of their economies, the PALOP countries have a high average, and well above the average for the region.
The report places Cape Verde as the country with the highest public debt in the region, but with the caveat that the debt profile is less worrying since it is largely concessional.
Mozambique, with 125 percent, is the second most indebted country on a list headed by Eritrea, with an impressive debt-to-wealth ratio of 175 percent, it states.
The average for Portuguese-speaking countries is 94.7 percent, well above the 56.2 percent of GDP registered on average for the region.
Check out the forecasts below.
Economic Growth..............2020....2021..2022
Angola............................-4,0.....0,4.....3,7
Cape Verde.....................-14,0.....5,8.....6,0
Guinea-Bissau...................-2,4.....3,0.....4,0
Equatorial Guinea..............-5,8.....4,0....-5,9
Mozambique....................-0.5.....2.1.....4.7
São Tomé and Príncipe..........-6.5.....3.0.....5.0
Sub-Saharan Africa.............-1,9.....3,4.....4,0
Public debt.........2020..........2021....2022
Angola....................127,1.....110,7.....99,6
Cape Verde..............139.0.....137.6....131.3
Guinea-Bissau............78,1......78,1.....76,4
Equatorial Guinea.......51,1......44,1.....45,8
Mozambique............122,2.....125,3....126,4
Sao Tome and Principe...81.4......72.4.....67.6
Sub-Saharan Africa.....57.8......56.2.....56.2
