Sub-Saharan Africa’s economies are experiencing the lowest growth rate in six years, the IMF announced in its twice-yearly Regional Economic Outlook report. The fund said sub-Saharan Africa’s economies would collectively grow by 3.75% this year. That represents a dramatic downward revision of two percentage points from the IMF’s prediction a year ago, Matina Stevis writes, and 0.75 percentage points off its most recent prediction in April.
“The strong growth momentum evident in the region in recent years has dissipated in quite a few cases,” the IMF said.
According to the IMF’s World Economic Outlook database, just four of the world’s 10 fastest-growing economies are in Africa now…. CLICK HERE for the complete article