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Sub-Saharan Africa needs $245 billion external funding in five years – IMF

Sub-Saharan Africa needs $245 billion external funding in five years – IMF The region needs reforms in digitalisation, trade integration, competition, transparency and governance and climate-change mitigation. 2 min read The International Monetary Fund (IMF) says sub-Saharan Africa’s low-income countries face additional external funding needs of about $245 billion over the next five years or 425 billion dollars for the whole region. Abebe Selassie, IMF’s Director, African Department, said this on Thursday in Washington D.C. during a media conference on the release of the April Regional Economic Outlook for Sub-Saharan Africa. According to him, this is to help boost spending on the pandemic response, maintain adequate reserves and accelerate income convergence.

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