IMF sounds the alarm about Africa's economic outlook amid Russia's war in Ukraine as 4 African nations join US to make bold declaration on Internet
Here is our top story today: AFRICA IS IN DANGER: Africa’s economic growth is expected to slow to 3.8 percent this year from 4.5 percent in 2021 mainly because of Russia’s war in Ukraine that has triggered a sharp rise in commodity prices, strained the fiscal and external balances of commodity-importing countries and increased food-security concerns across the region, the International Monetary Fund (IMF) said in its latest Regional Economic Outlook for Sub-Saharan Africa released on Thursday.
IMF noted that the economic recovery in sub-Saharan Africa picked up in the third quarter of 2021 and held up despite the onset of a fourth COVID-19 wave at the end of the year. Things went so well that estimated growth in 2021 has been revised upward from 3.7 to 4.5percent. However, that progress has been jeopardized by Russia’s war in Ukraine and other shocks and risks.
Simon Ateba, Publisher and White House Correspondent for Today News Africa in Washington DC