IMF raises sub-Saharan Africa growth outlook
The IMF said the new projection, marginally higher than July’s 4.3%, “masks substantial divergence” within the region.
4 stories
The IMF said the new projection, marginally higher than July’s 4.3%, “masks substantial divergence” within the region.
The IMF warned that “zombie companies” — whose earnings haven’t covered interest payments for at least three years — now comprise more than a fifth of Asia’s outstanding corporate debt, potentially posing a systemic risk.
The Middle East and North Africa is now expected to be the only region to shrink this year. In April, the IMF forecast Saudi Arabia and the UAE would grow.
The marginal upgrade in the IMF’s outlook nevertheless represents a slowing in the pace of overall expansion.
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