IMF Warns As Nigeria, South Africa Drags Sub-Saharan Africa’s Economy Down

The International Monetary Fund (IMF) said that if steps are not taken to address the policy uncertainties that hold back growth in both countries, Nigeria and South Africa will continue to undermine the economic growth of the rest of Sub-Saharan Africa, Premium Times reports.

In its latest "Regional Economic Outlook" report launched in Abuja on Tuesday, the IMF stated that while economic recovery is expected to rise from 3% in 2018 to 3.5% in most parts of Sub-Saharan Africa, the aggregate growth rate in both countries is expected to be around 2.1% in 2019.

The report said the growth rate in the region, expected to stabilise slightly below 4% or reach 5% in  21 countries, will exclude Nigeria and South Africa, the region’s two major economies.





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