High oil prices and the African economy

Abstract

As crude oil prices continue to soar in the international market, the Africa Development Bank, in this paper, highlights the expected effects of high oil prices on oil-importing and exporting member countries. It therefore recommends the implementation of remedial policies by importers and other supports from the international community to bridge the financing gap arising from the oil price increase.

NESG Economic Indicators Vol. 13 (4) 2007 pp. 25-31