REGIONAL : IMF predicts sub-Saharan Africa to hit 4% growth in 2010

The International Monetary Fund (IMF) predicts a 4 percent economic growth in 2010 and a 5 percent growth in 2011 for sub-Saharan Africa.

The International Monetary Fund (IMF) predicts a 4 percent economic growth in 2010 and a 5 percent growth in 2011 for sub-Saharan Africa.

The optimistic forecast was made in the IMF report released on Thursday in the Senegalese capital Dakar by Roger Nord, principle advisor to the African office of the institution and Norbert Funke, head of the Senegalese mission.

“The global economic crisis had affected sub-Saharan Africa and led to a fall in growth in the region by 1 percent in 2009 after long vigorous growth periods,” the IMF report noted.

The IMF proposed to the sub-Saharan African countries to maintain good budgetary and monetary policies until full economic recovery.

The new financial commitments from the IMF towards these countries have reached more than 3 billion U. S. dollars this year, up from one billion dollars in 2008 and 100 million dollars in 2007.

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