IMF Regional Economic Outlook: Sub-Saharan Africa

Stock.xchngThe IMF has just published the Regional Economic Outlook: Sub-Saharan Africa titled “Sustaining Growth amid Global Uncertainty”.

According to the report Sub-Saharan Africa continues to record strong economic growth, despite the weaker global economic environment.

Regional output rose by 5 percent in 2011, with growth set to increase slightly in 2012, helped by still-strong commodity prices, new resource exploitation, and the improved domestic conditions that have underpinned several years of solid trend growth in the region’s low-income countries.

But there is variation in performance across the region, with output in middle-income countries tracking more closely the global slowdown and with some sub-regions adversely affected, at least temporarily, by drought. Threats to the outlook include the risk of intensified financial stresses in the euro area spilling over into a further slowing of the global economy and the possibility of an oil price surge triggered by rising geopolitical tensions.

The REO full text is available here.