Washington, November 3: Despite last year’s slow growth in the economy of Sub-Saharan Africa, International Monetary Fund predicts a modest growth this year. From 20-years low, a rebound is expected from last year’s 1.4% to 2.6%. Though amid the expectation of growth, the organization warns public debt is rising and soon could become unsustainable in some African countries.
But some economists have disagreed with IMF forecast. They want to focus on the recent increases in commodity prices, and in particular on the fact that oil has moved up well over $60 a barrel in recent weeks. Hence that is important for oil-based economies like Nigeria and Angola.