Cover -- Contents -- Preface -- Abbreviations -- Executive Summary -- I. Overview -- Main Developments and Outlook for 2007 -- Macroeconomic Policy Issues -- Prospects for 2008 -- Medium-Term Policy Challenges -- II. The Creation of Fiscal Space for Priority Spending: Case Studies in Sub-Saharan Africa -- Experience with Sources of Fiscal Space -- Experience with the Use of Fiscal Space -- Planning for the Medium Term in Theory and Practice -- Country Case Studies -- Appendix -- Statistical Appendix -- Sub-Saharan Africa: Country Groupings -- Data and Conventions -- List of Tables -- References -- Publications of the IMF African Department, 2003-07 -- Tables -- 1.1. Sub-Saharan Africa: Selected Indicators, 2003-08 -- 2.1. Fiscal Space Indicators for Selected Countries, Changes, 2000-06 -- 2.2. Debt Service-to-GDP Ratios for Selected Countries, 2000-06 -- 2.3. Ghana: Sources and Uses of Fiscal Space -- 2.4. Malawi: Sources and Uses of Fiscal Space -- 2.5. Rwanda: Sources and Uses of Fiscal Space -- 2.6. Tanzania: Sources and Uses of Fiscal Space -- 2.7. Uganda: Sources and Uses of Fiscal Space -- Figures -- 1.1. A Comparison of Growth -- 1.2. Growth in Sub-Saharan Africa -- 1.3. Contribution to GDP Growth in Sub-Saharan Africa -- 1.4. Real per capita GDP Growth in Sub-Saharan Africa -- 1.5. Terms of Trade in Sub-Saharan Africa -- 1.6. Inflation in Sub-Saharan Africa -- 1.7. Components of Official Development Assistance to Sub-Saharan Africa -- 1.8. Sub-Saharan Africa's External Current Account Balance -- 1.9. Trade Volume and Terms of Trade in Sub-Saharan Africa -- 1.10. Sub-Saharan African Commodity Prices -- 1.11. International Reserves in Sub-Saharan Africa -- 1.12. External Debt in Sub-Saharan Africa -- 1.13. Counterparts to Money Supply in Sub-Saharan Africa -- 1.14. Credit to the Private Sector in Sub-Saharan Africa.

1.15. Real Effective Exchange Rates in Sub-Saharan Africa -- 1.16. Real Effective Exchange Rates in the CEMAC and the WAEMU -- 1.17. Real Effective Exchange Rates in Sub-Saharan African Countries with a Floating Regime -- 1.18. Real Effective Exchange Rates in Sub-Saharan Africa -- 1.19. Central Government Revenues in Sub-Saharan Africa -- 1.20. Central Government Primary Spending in Sub-Saharan Africa -- 1.21. Central Government Social Spending in Sub-Saharan Africa -- 1.22. Central Government Balance in Sub-Saharan Africa -- 1.23. Low-Income Sub-Saharan African Countries: Government Financing of Fiscal Deficits -- 1.24. Growth Prospects in Sub-Saharan Africa -- 2.1. Median Revenue-to-GDP Ratio for Selected Groups of African Countries -- 2.2. Median Grants-to-GDP Ratio for Selected Groups of African Countries -- 2.3. Median Expenditures-to-GDP Ratio for Selected Groups of African Countries -- 2.4. Median Overall Deficit-to-GDP Ratio for Selected Groups of African Countries -- 2.5. Ghana: Total Official External Financing, 2005-09 -- 2.6a. Rwanda: Aid and Capital Expenditure -- 2.6b. Rwanda: Government Revenue and Expenditure -- 2.7. Uganda: Net Donor Inflows -- 2.8. Uganda: Government Expenditure and Revenue -- Boxes -- 1.1. Typology of Countries -- 1.2. Terms of Trade and Current Growth Episodes in Sub-Saharan Africa -- 1.3. Aid to Sub-Saharan Africa: Where Do We Stand on Gleneagles? -- 1.4. Private Capital Flows to Sub-Saharan Africa -- 1.5. Foreign Exchange Reserve Adequacy in Africa -- 1.6. The Local Currency Debt Market in the West African Economic and Monetary Union -- 2.1. The Poverty and Social Impact of Increasing Fiscal Space Through Revenue Collection -- 2.2. Reforms at the Uganda Revenue Authority.