Business News of Friday, 12 April 2019Source: reuters.comIMF cuts sub-Saharan Africa's growth forecast to 3.5%The International Monetary Fund(IMF)The International Monetary Fund cut its 2019 economic growth projection for sub-Saharan Africa this year to 3.5 per cent, from the 3.8 per cent set last October, hot on the heels of a downgrade by the World Bank earlier in the week. The new forecast reflects downward revisions for Angola and Nigeria with a softening in oil prices, the IMF said in a report published late on Tuesday. The commodity price slump of 2015 cut short a decade of rapid growth for economies in the region. Ghana and South Sudan will be the fastest-growing economies this year, both expanding by 8.8 per cent, the IMF said. South Sudan is emerging from years of conflict after a peace deal last year, which has enabled it to start pumping crude oil.

Source: GhanaWeb April 12, 2019 16:52 UTC