News Column

But poverty casts a shadow - IMF

May 30, 2014

MAPUTO: Africa was "taking off" with strong, steady growth but poverty was unacceptably high and governments needed to build infrastructure and institutions and educate people to share the benefits more widely, the IMF's head said yesterday.

Sub-Saharan Africa is expected to grow by about 5.5 percent this year - well above the global average - with some of its poorest countries expanding by closer to 7 percent, IMF managing director Christine Lagarde told an IMF conference in the Mozambican capital Maputo.

The region had become a growing investment destination for both advanced and emerging economies, with a record $80 billion (R833bn) of inflows expected this year. - Reuters

Cape Argus

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Source: Cape Argus (South Africa)

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