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“At last, the Light on the Horizon for sub-Saharan Africa’s Economy Seems to Shine a Little Brighter” – IMF
By SG Editor·
Image shows the IMF building’s exterior with the organization’s logo prominently displayed.
Africa’s economic outlook has brightened but is facing risks that stretch from a resurgent dollar to deadly droughts that add to a “brutal cocktail” of shocks it has already endured, the IMF said. The region’s growth should nudge up four tenths of a percentage point to 3.8% this year and 4% in 2025, the International Monetary Fund said in its regional economic outlook released on Friday. The IMF also heralded the resumption of access to capital markets – albeit at higher yields than before — following eurobond offerings by Ivory Coast, Benin and Kenya that ended a two-year hiatus for African credits and expected others to follow next year.