International Monetary Fund, IMF highlights a bright economic future for Sub-Saharan African countries with low income rate, expecting strong economic growth acceleration in 2015 by five to seven percent.
IMF Africa Department economist Isabelle Adenauer told journalists in April Spring Meetings in Washington DC that there is a remarkable faster trend of growth of all Sub-Saharan Africa economies due to good harvest, agricultural development and continued investment in natural resources and social economic infrastructures in many countries.
Surprisingly she added that even fragile group countries are coming up.
Ms Adenauer predicted some threats to the growth of African economies from other regions like China including slow down demand for Africa raw materials exports especially non-oil resources affecting trade in the region.
She pointed out that Africa’s exports to Brazil, Russia, India and China constitutes 0ne third of non-oil resources.
The economist criticized general fuel subsidies in Africa as non-beneficial to the poor who do not have vehicles.
She urged African governments including South Sudan to shift away from general subsidies to targeted ones to benefit all citizens.
South Sudan is the newest member of the International Monetary Fund, IMF that advises countries on monetary, fiscal policies.