Sub-Saharan Africa could meet growth expectations of 6 percent this year, despite a slowdown in
The bank forecasts growth of 5.3 percent across
"The African growth story is only partly a commodity story - it's also about FDI [foreign direct investment], private equity, remittances, urbanisation. The commodity story only explains… a third of what is happening."
Growth expectations in
He said: "
Emerging markets have seen a heavy sell-off since the US Federal Reserve began to wind down its bond-buying programme, which had depressed US bond yields and fuelled demand for high-yielding risky assets. The move out of emerging markets has been accelerating in recent weeks.
That has particularly hurt countries like
"If they could address the issues around the political economy of the mining sector, labour relations, that would be a huge contribution to providing clarity to investors."
Other countries are seeing contagion from the emerging market crisis as well.
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