Overwhelming evidence shows that central Africa’s oil exporters have not avoided the “resource curse.” Despite its vast oil wealth, the region still faces substantial growth and development challenges. In other words, oil wealth has not led to more inclusive growth. Therefore, the overarching priority for these countries remains to seize the opportunity provided by oil wealth to foster strong, sustained, and inclusive economic growth and to generate sufficient employment opportunities, particularly for their fast-growing youth population.
Drawing on new research work on managing oil wealth and central Africa’s oil exporters’ experience with managing oil wealth, this book addresses the challenge of strengthening the management of oil wealth and promoting policies for inclusive growth. It is organised in three parts. The first part lays out the macroeconomic and growth challenges facing the region. The second part focuses on oil wealth management and its implications for poverty reduction. The third part consists of four case studies on central Africa’s experience with managing oil wealth and lessons learned.
