Africa’s economic recovery will be short-lived ...Middle East

Quartz - Economy

Hi Quartz Africa readers,This week I had a call with Abebe Aemro Selassie, Africa director at the International Monetary Fund (IMF), to discuss the organization’s most recent report. It found that despite the devastating effects of covid-19 in Africa, the continent’s economy appeared to recover last year—growing 4.5%, well above the 3.7% the IMF had projected.Unfortunately, that recovery may be short-lived. “With the pandemic, a few segments of society were able to insulate themselves from the [economic] effects,” Selassie says. But more recent developments, like rising fuel and food prices caused by the war in Ukraine, mean the IMF is projecting slower growth (3.8%) for 2022.Read the rest o

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Africa’s economic recovery will be short-lived ...Middle East

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