Nearly one billion people living in the world's most vulnerable economies could face higher living costs, inflation and slower growth as disruptions in the Strait of Hormuz drive up global oil prices, the United Nations Conference on Trade and Development (UNCTAD) has warned.
The African Development Bank (AfDB) has recommended Congo to introduce an automatic mechanism to capture additional oil revenues when crude prices exceed budget assumptions, as the country seeks to strengthen fiscal stability, reduce debt and attract investment into its energy sector.
