THE International Monetary Fund (IMF) has released its latest review of the global economy, in which there isn’t too much cheerful news.
The world’s growth this year has been revised downward to 3.2%, from the 3.4% forecast in its previous update in January . Weak recovery to 3.5% next year is expected.
Growth in sub-Saharan Africa is projected to reach 3% this year, half a percentage point lower than in 2015. Last year, the IMF forecast the region’s economy would grow 4.3%.
Growth is expected to pick up to 4% in 2017. In addition to the key messages in the report the data around the region is also fascinating, showing among others the real cost of drought and Ebola to the economy.
M&G Africa looked at other notable numbers: