Business
IMF positive on Africa growth
The International Monetary Fund said it was still positive about the growth outlook for Sub-Saharan Africa as economies expand output in areas like mining but warned that the global economic turmoil posed potentially significant risks.
Regional economies are expected to post nearly 6 percent average economic growth in 2012, rising from just above 5 percent on average this year, the IMF said, pointing to a better outlook than in advanced economies, which are more likely to experience a sharp slowdown due to global volatility.
“Those projections may turn out to be too optimistic given the risks to the global economy. Those projections are based on a 4 percent growth rate for the global economy in 2011 and 2012,” Antoinette Sayeh, director of the IMF’s African department, told Reuters on Wednesday after presenting the regional economic outlook.
