Vulnerable to disruptions in global activity and financial markets, Sub-Saharan Africa will depend on the path of the global pandemic and the regional vaccination effort for its recovery, the IMF said in its regional economic outlook report. Sub-Saharan Africa is set to grow by 3.7 percent in 2021 and 3.8 percent in 2022, thanks to an improvement in global trade and commodity prices, IMF said in its recent report. It also mirrors global conditions, in which global food prices increased by about 30 percent in August (year-over-year)," IMF noted. The IMF report highlighted that the crisis has underscored the importance of international solidarity and support. For sub-Saharan Africa, these goals are ambitious and will require a marked change in strategy by both advanced economies and sub-Saharan African countries, IMF said.

Source: The North Africa Journal December 21, 2021 18:01 UTC