October 25, 2010

International Monetary Fund Expects 'Broad Based' Growth in 2010-11

The International Monetary Fund (IMF) noted today in its October 2010 Regional Economic Outlook that "broad-based economic recovery...is now under way in sub-Saharan Africa." The Fund projects growth of 5% in the region for 2010 (up from prior estimates of a 4.5% expansion), and 5.5% for 2011. Driving factors of this growth include domestic demand and exports to Asian economies.

However, the IMF cautions that elevated unemployment and inherent political fragility, especially in middle income and oil exporting countries, remain a risk.

A press release summarizing the report can be found here, while the full text can be found here.

Additional commentary on the report by the Wall Street Journal, with an emphasis on the role of China, can also be found here.

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