IMF says African economies performing well despite shocks from the Iran war
BANGKOK - African economies have managed to weather the energy crisis brought on by the Iran war, but a decline in aid has left the continent vulnerable to future shocks, the head of the International Monetary Fund's Africa department said Thursday.
By Elaine Kurtenbach, Associated Press·6 hr ago
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African economies have managed to weather the energy crisis brought on by the Iran war, but a decline in aid has left the continent vulnerable to future shocks, the head of the International Monetary Fund's Africa department said Thursday.
The IMF forecasts growth in Africa at 4. 5% this year, slightly higher than its earlier estimate, recovering to 5% in 2027.
But development assistance for the continent fell sharply last year and is forecast to fall another 12% this year, Zeine Zeidane said at a meeting of the IMF and World Bank in Bangkok.
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