Sub-saharan countries to record 3.54% growth – IMF

The International Monetary Fund said Nigeria and other Sub-Saharan countries would grow their economies by an average of 3.4 per cent in 2018, from 2.8 per cent in 2017.

IMF’s country Senior Representative, Amine Mati says about two-third of the countries in Africa would experience the growth riding on the back of stronger global growth, higher commodity prices and improved capital market access.

According to Mati, nearly all African countries are seeking to raise revenue to make progress toward their sustainable development goals while preserving fiscal sustainability.

He called for prudent fiscal policy to rein in public debt, while monetary policy must be geared toward ensuring low inflation.

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