Lagarde warns of recessions in African economies
Some countries’ GDP due to shrink despite headline growth, IMF chief warns
Two-fifths of Africa’s people are living in economies where per capita GDP is expected to shrink in the coming year, Christine Lagarde warned on December 15.
“On a GDP per capita basis, 15 countries on the continent are expected to see a decline this year,” the International Monetary Fund’s managing director told an audience in Addis Ababa. “This encompasses about 40 percent of the population.”
The continent’s GDP was growing as a whole, Lagarde said. “Growth is expected to reach 2.9 percent
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