IMF - Regional Economic Outlook for Sub-Saharan Africa - October 2024

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Document Type: Reports and Assessments
Document Type: English
Publish Date: 25 October 2024 (1 month ago)
Upload Date: 26 November 2024 (10 hours ago)
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IMF - Regional Economic Outlook for Sub-Saharan Africa - October 2024

Document Type: Reports and Assessments
Document Language: English
Sub-Saharan African countries are implementing difficult and much needed reforms to restore macroeconomic stability, and while overall imbalances have started to narrow, the picture is varied. Policymakers face three main hurdles. First, regional growth, at a projected 3.6 percent in 2024, is generally subdued and uneven, although it is expected to recover modestly next year to 4.2 percent. Second, financing conditions continue to be tight. Third, the complex interplay of poverty, scarce opportunities, and weak governance--compounded by a higher cost of living and short-term hardships linked to macroeconomic adjustment--are fueling social frustration. Within this environment, policymakers face a difficult balancing act in striving for macroeconomic stability while also working to address development needs and ensure that reforms are socially and politically acceptable. Protecting the most vulnerable from the costs of adjustment and realizing reforms that create sufficient jobs will be critical to mobilize public su
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