IMF sees Sub-Saharan African growth averaging 6 % in 2012

Oct 11, 2011 12:00 AM

The International Monetary Fund (IMF) predicted a rosy outlook for Sub-Saharan Africa growth in 2012, but warned of significant risks from global financial volatility that could subdue demand and private inflows into the world's financially poorest continent.
Growth in Sub-Saharan African economies should remain on average above 5 % in 2011, according to the IMF's latest statement.

The IMF also said it expected the growth rate in Sub-Saharan African to increase in 2012 to nearly 6 % on the back of one-off boosts to production in a number of concerned countries. It urged policy makers in the continent to formulate policies that took into account the projected strong growth, as well as emerging challenges from the global financial problems.
The IMF pointed out that Sub-Saharan Africa needed to continue to invest in growth and employment, which are critical for sustained poverty reduction.

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