African economies have managed to weather fairly well the energy crisis brought on by the Iran war, but a decline in aid has left the continent vulnerable to future shocks, the head of the International Monetary Fund’s Africa department said Thursday.
The IMF forecasts growth in Africa at 4.5% this year, slightly higher than its earlier estimate, recovering to 5% in 2027. But development assistance for the continent fell sharply last year and is forecast to fall another 12% this year, Zeine Zeidane said at a meeting of the IMF and World Bank in Bangkok.
