Sub-Saharan Africa’s economy is expected to grow 3.7 percent in 2021 and 3.8 percent in 2022, the International Monetary Fund (IMF) said. The Bretton Woods institution noted that this progress is welcome, but still represents the slowest recovery compared to other regions.
According to Ethiopian Abebe Aemro Selassie, director of the Fund’s Africa department, the economic outlook differs on three levels: between sub-Saharan Africa and other regions, and within countries.
The official notes that these discrepancies reflect the slower deployment of vaccines in the region, more limited fiscal space and regional disparities in resilience. The outlook, he stresses, remains extremely uncertain and the risks are tilted to the downside.
“The recovery depends on the trajectory of the global pandemic and the regional vaccination effort, on food price inflation, and is also vulnerable to disruptions in global activity and financial markets,” Abebe added. Aemro Selassie.
Meanwhile, the IMF’s Africa official warned that for the future, the potential of sub-Saharan Africa will not diminish, and that the region is at a critical time to implement transformative reforms.
