IMF proffers initiatives to mitigate economic impact of pandemic in SSA

Thu Mar 26th, 2020 - Nationwide

The International Monetary Fund (IMF) has stated that what began as a health crisis and now a major global economic crisis, may have substantial economic impact on Nigeria and other sub-Saharan African countries.

According to the IMF, many countries in sub-Saharan Africa have limited room in their budgets to increase spending, as they have had rely more on global capital markets since the financial crisis a decade ago.

Already, it has stated that growth forecast in April’s regional outlook would be significantly lower, as slowdown will mean revenues take a hit, just as countries face additional public spending needs.




source: Guardian