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Discusses recent economic developments and prospects for countries in various regions, addresses economic policy developments that have affected economic performance in the regions, and discusses key challenges faced by policymakers.

The COVID-19 pandemic has caused dramatic loss of human life and major damage to the European economy, but thanks to an exceptionally strong policy response, potentially devastating outcomes have been avoided.

The economic recovery in sub-Saharan Africa is expected to continue, but at a slower pace than envisaged in October 2018. This weaker outlook reflects domestic and external challenges. Under current policies, medium-term average growth for the region is expected to continue to fall.

The macroeconomic outlook for sub-Saharan Africa continues to strengthen with higher growth, easing inflation, and stabilizing public debt ratios with some countries improving their fiscal balances. But there are concerns on the quality of the fiscal adjustment and underlying vulnerabilities have yet to be decisively addressed.

The European recovery is strengthening and broadening appreciably. Real GDP growth is projected at 2.4 percent in 2017, up from 1.7 percent in 2016, before easing to 2.1 percent in 2018. These are large upward revisions--0.5 and 0.2 percentage point for 2017 and 2018, respectively--relative to the April World Economic Outlook. The European recovery is spilling over to the rest of the world, contributing significantly to global growth. In a few advanced and many emerging economies, unemployment rates have returned to precrisis levels. Most emerging market European economies are now seeing robust wage growth. In many parts of Europe, however, wage growth is sluggish despite falling unemployment.

Growth in Asia is expected to moderate to 5.0 percent in 2019 and 5.1 percent in 2020. A marked deceleration in merchandise trade and investment, driven by distortionary trade measures and an uncertain policy environment, is weighing on activity, particularly in the manufacturing sector.

The economic recovery in sub-Saharan Africa is expected to continue, but at a slower pace than envisaged in October 2018. This weaker outlook reflects domestic and external challenges. Under current policies, medium-term average growth for the region is expected to continue to fall.

The macroeconomic outlook for sub-Saharan Africa continues to strengthen. Growth is expected to increase from 2.7% in 2017 to 3.1% in 2018, reflecting domestic policy adjustments and a supportive external environment, including continued steady growth in the global economy, higher commodity prices, and accommodative external financing conditions.

Growth in much of Sub-Saharan Africa is expected to remain strong, driven by efforts to invest in infrastructure and strong agricultural production. External threats to the region's overall positive outlook include global financial conditions and a slowdown in emerging market growth. French edition

Discusses recent economic developments and prospects for countries in various regions, addresses economic policy developments that have affected economic performance in the regions, and discusses key challenges faced by policymakers.

Discusses recent economic developments and prospects for countries in various regions, addresses economic policy developments that have affected economic performance in the regions, and discusses key challenges faced by policymakers.

With the global economy gaining some momentum, economies of Latin America and the Caribbean are recovering from a recession at the regional level in 2016. Chapters in this report examine the ongoing external adjustment to terms-of-trade shifts, drivers of capital flows to the region, the role of the investor base, and macroeconomic impact of migration and remittances.

La dynamique de croissance en Afrique subsaharienne demeure fragile, ce qui represente une rupture par rapport a la rapide expansion qui avait ete enregistree depuis le debut du millenaire. L'annee 2016 a ete difficile pour de nombreux pays et la croissance regionale est descendue a 1,4 %, le niveau le plus faible depuis plus de deux decennies.

Economic growth in sub-Saharan Africa this year is set to drop to its lowest level in more than 20 years, reflecting the adverse external environment, and a lacklustre policy response in many countries. Sub-Saharan Africa remains a region of immense economic potential, but policy adjustment in the hardest-hit countries needs to be enacted promptly to allow for a growth rebound.

Economic growth in sub-Saharan Africa as a whole has fallen to its lowest level in 15 years, though with large variation among countries in the region. This report examines sub-Saharan Africa's vulnerability to commodity price shocks, and documents the substantial progress made in financial development, especially financial services based on mobile technologies.

Describes the policies and economic reforms needed to address the declining productive capacity in Latin America and the Caribbean. Three chapters assess corporate vulnerabilities in Latin America, analyse the degree of exchange rate pass-through in the region, and evaluate trends in public and private infrastructure investment.

Chapters in this report examine monetary policy in Latin America, including the region's exposure to global financial shocks; the role of value chains and regional trade agreements in fostering trade integration; and the state of financial market development in the region.