3 things African govts must do to experience growth – IMF

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Christine Lagarde, IMF boss

Countries in sub-Saharan Africa need to get their budgets in order, diversify their economies and look after their poorest people, the IMF said.

According to the IMF’s regional economic outlook, if they do that, there is no reason why the region cannot have the strong growth needed to meet the aspirations of a young and growing population.

That, at least, is the three-pillared prescription from the IMF as expressed by one of its top Africa researchers, Celine Allard, in an official IMF blog post and podcast.

Allard co-authored the Fund’s regional economic outlook.

It found that sub-Saharan economic growth hit only 1.4 percent last year, the lowest level in two decades and well off the five to six per cent rates normally reached.

It was also well below the population growth rate.

“This is a quite broad-based deceleration because we see about…

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