Sunday, August 14, 2011
How do you explain this to a dyslexic person ?
Ironically, because of the sharp economic slowdown elsewhere, the International Monetary Fund (IMF) predicts that Africa will be in the unprecedented position of experiencing more rapid economic growth this year than any other region, at around 3.7 per cent. But this is lower than it would otherwise have been. Mr. Alan Gelb, the World Bank's chief economist for Africa, told Africa Recovery that the Asian events were responsible for reducing the overall growth rate in Africa by about 1 percentage point this year, mainly through their role in dragging down world trade and growth. This conforms with the revisions in the IMF's projections for African growth, which are now a percentage point lower than its projection of 4.6 per cent earlier in the year.
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