Sub-Saharan region to undergo slow economic activities - IMF
sibly add to social tensions,” stressed Abebe Aemro Selassie, Director of the IMF’s African Department.
Mr Selassie said higher oil prices may generate a windfall gain for the region’s oil export
O ers. ne person has been This development is subject He however arrested said after for the he and othto an extraordinary range of er 37 countries, six others they allegedly would set risks, the International Monworsen ablaze trade a house imbalances destroying and etary Fund (IMF) said in its increase property living worth costs. K12,350 in latest Regional Economic OutHe Kapijimpanga pointed out area that in Solwezi over look for Sub-Saharan Africa. the district. past couple of months, the
“The war in Ukraine has alIMF had North-western increased province its inflaready reshaped the near-term tion Deputy projections Commissioner significantly, of Pooutlook for sub-Saharan Afrilifting lice, the Fred regional Mulenga average who confor ca. 2022 firmed by a full the incident four percentage in Solwezi
“The shock to global compoints, today and said representing the incident hapthe modity markets will add to worst pened outcome on 18th since February 2008. 2022 inflation, hit the region’s This at 13:24 year, hours. Mr Selassie said, most vulnerable households, eleven countries would face exacerbate food insecurity, double digit inflation; almost raise poverty rates, and pos- all of these have flexible ex
ECONOMIC activity in the Sub-Saharan Africa, which includes Zambia, is expected to slow to 3.8 percent this year due to the Russian invasion of Ukraine.
change rates, and almost half of these are fragile.
“For most countries, the new crisis comes at an extremely difficult time—as the Covid-19 pandemic enters its third year, fiscal and international An buffers unregistered are already motorcycle under valued strain, at and K12,000 policy was space also is limited,” stolen. he said.
According "Be informed to the that report, this forthe recovery mation in is in Sub-Saharan receipt of a report Africa by picked Lydia up Chichele in the third aged quar30 of ter Kapijimpanga of 2021 and held area up that despite her the house onset was of a damaged fourth Covid-19 and set wave ablaze at the by end Charles of the Kalombo, year.
Estimated Robby Kalukungu, growth Kennedy in 2021 has Kalombo, been revised Sayoni upward Kalombo, from 3.7 Meston to 4.5percent. Kalombo, Kalimo
Tragically, Ng'ombo and however, Kalombo other this progress names has unknown," been offset he said. by recent events.
The Russian invasion of Ukraine has triggered a sharp rise in commodity prices— straining the fiscal and external balances of commodity-importing countries and increasing food-security con
cerns across the region.