Drop in economic growth in Africa by 1.4%
Date
10/26/2016 1:35:00 AM
(MENAFN) The International Monetary Fund (IMF) reported a drop in Africa's economic growth by 1.4% in 2016, due to the drop in oil prices and political crisis in Eastern Africa.
IMF Director of the African Department confirmed that the dip in economic growth in Africa would be short-lived and it is resulted from the massive drop in commodity prices.
Moreover, he added: 'There are four reasons for this slowdown, the drought, low commodity prices, the tighter financing conditions and the delayed policy response in the region.'
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