Africa’s Economic Outlook Brightens Even as Price Remains High
- IMF sees growth picking up to 3.8% this year from 3.4% in 2023
- Region facing risks from droughts, higher for longer US rates
The IMF also heralded the resumption of access to capital markets following eurobond offerings that ended a two-year hiatus for African credits.
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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 in Washington.