Ver Angola

Economy

IMF presents economic forecasts for sub-Saharan Africa this Thursday

The International Monetary Fund (IMF) presents this Thursday, in a press conference of the director of the African department, Aemro Abebe Selassie, the report on the economies of sub-Saharan Africa, forecasting a recovery of 3.4 percent this year.

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The growth estimate revises the October forecast slightly, in which the IMF foresaw a 3.2 percent recovery, and follows the region's contraction last year, which saw GDP drop by 1.9 percent.

"Following the biggest contraction ever in the region, with a drop of 1.9 percent in 2020, growth is expected to rise to 3.4 percent in 2021, significantly lower than the anticipated trend before the pandemic," also in the report on the World Economic Perspectives, released at the start of the IMF and World Bank Spring Meetings, last week.

The IMF has revised its growth forecast for Angola sharply, from 3.2 percent to 0.4 percent this year and 2.4 percent in 2022, below the region average, but still better than Equatorial Guinea , which after a recession of 4 percent estimated for this year, is expected to grow by almost 6 percent in 2022, then returning to negative growth in the following years.

All other Portuguese-speaking countries are expected to recover this year from last year's negative growth, with emphasis on Cape Verde, which saw wealth contract a historic 14 percent in 2020, but will grow by almost 6 percent this year.

For gross public debt, the only figures already released by the IMF are on Angola, which is expected to see the GDP-to-GDP ratio drop from 127.1 percent to 110.7 percent this year, 99.6 percent in 2022, and Mozambique , which is expected to see the ratio grow from 122.2 percent in 2020 to 125.3 percent this year and 126.4 percent in 2022.

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