East Africa is set for higher growth rate due to its diversified economies
Nairobi, April 28 -- The International Monetary Fund's deputy division chief in the Africa Department spoke to Julians Amboko and shed light on its forecast for East Africa and policies that are likely to turn around African economies.
The April 2024 report downgrades IMF's growth forecast for sub-Saharan Africa to 3.8 percent from the 4.0 percent that was projected just six months ago. What informs this downshift in IMF's outlook for the region in 2024 at a time when it looks like there is a lot that seems to be turning for the better?
In general, 20.0 basis points (from 4.0 percent to 3.8 percent) of a revision is generally small and overall, the main message to take away from this April report is that after two years of sluggish grow...
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