...Economic reform and generally good access to external finance are enabling many sub-Saharan African sovereigns to be resilient to the US-Iran war and a volatile external environment. Median growth is stable and engines of growth are diversifying. Inflation is rising in response to higher oil prices, but from a low base and is being stemmed by monetary policy tightening. Higher hard commodity prices, solid inflows of remittances and concessional and foreign portfolio flows have contained pressure on reserves while greater exchange-rate flexibility has boosted resilience to shocks in some sovereigns. Enhanced revenue mobilisation and expenditure rationalisation are supporting fiscal performance, with the region projected to record a rare median primary surplus in 2026, keeping government debt/GDP on a downward trajectory. Upcoming elections in key sovereigns and greater political and social activism amount the young pose a test to reform momentum....
