Africa to maintain solid growth in 2013 and 2014 – IMF

On average urban Africans already spend more on apparel and food than those in Brazil, China and India, according to a recent McKinsey & Company study.

While the price of basic goods continues to increase in many African nations, particularly oil producers Nigeria and Angola, the IMF urged others to take advantage of moderate inflation.

“The success in reducing inflation has provided room for a gradual easing of the monetary policy stance in several countries,” it said.

Sources: AFP and IMF

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