IMF: Sub-Saharan Africa needs $245 billion external funding in five years today.ng - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from today.ng Daily Mail and Mail on Sunday newspapers.
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.