IMF Upgrades Africa GDP Growth Forecast to 5.8 Percent for Fiscal Year
The International Monetary Fund has revised upward its growth forecast for sub-Saharan Africa to 5.8 percent, citing stronger-than-expected performance in commodity markets and a s...
The International Monetary Fund has revised upward its growth forecast for sub-Saharan Africa to 5.8 percent, citing stronger-than-expected performance in commodity markets and a surge in foreign direct investment.
The revision represents a 1.2 percentage point upgrade from the January forecast and would make sub-Saharan Africa the fastest-growing major regional bloc in the world.
Countries leading the growth surge include Ethiopia, Rwanda, Cote d’Ivoire, Tanzania and Senegal.
The IMF cautioned that downside risks remained significant, including climate shocks and debt sustainability concerns in several frontier markets.
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