IMF forecasts economic slowdown and warns of financing shortage in Sub-Saharan Africa

IMF forecasts economic slowdown and warns of financing shortage in Sub-Saharan Africa

IMF warns of financing shortage and public debt in Sub-Saharan Africa, while urging policymakers to maintain prudent monetary policy tightening; Senegal faces worrying inflation due to soaring food prices, and Libyan date producers struggle with poor marketing.

IMF report also emphasized the need for structural reforms to boost productivity and address the region’s infrastructure deficits. The report further highlighted the adverse effects of climate change on the region’s economies, particularly in the agricultural sector, which is a significant source of livelihood for many in the region.

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Regarding Senegal’s inflation, the IMF urged the government to take appropriate measures to contain it, such as reducing food import tariffs and increasing food supply. The report also recommended that policymakers in the country should prioritize measures to improve the business climate and promote private investment to support the country’s economic recovery.

As for Libya’s date producers, they have called for government support to develop the necessary infrastructure and marketing channels to reach international markets. The country’s political instability and security challenges have also hindered the export of Libyan dates. However, some farmers have taken matters into their own hands by using social media to promote their products and connect with potential buyers outside the country.

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