Growth Remains Strong but External Threats Increase

Summary

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Benedicte Christensen, acting director of the IMF's Africa Department, says prudent economic policies in sub-Saharan have helped reduce inflation and increase foreign exchange reserves. She points out, however, that external factors such as rising fuel costs, investor nervousness and, particularly, rising global food prices present increasing risks to the outlook. Several African nations are experiencing growing social unrest prompted by the food shortages and sharp rises in prices of fuel and food across the continent. Meanwhile, British fund management group Investec has launched a new Africa/Middle East fund focused on less mature economies in the region.

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Growth Remains Strong but External Threats Increase

Economic growth in sub-Saharan Africa is set to continue strongly this year, according to the International Monetary Fund, ...

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