In depth

Africa and the economic storm

Africa and the economic storm

High inflation and subsequent interest rate hikes in the US have had huge knock-on effects across the globe. Africa will need to shift dwindling financial resources to more productive uses if it is to emerge from the current crisis with optimism. Will this fall's IMF and World Bank meetings provide some relief?

IMF’s Selassie: ‘Picking on Africa, which has made zero contribution & needs to electrify, is startling’

Over the last 15 years, Africa has become integrated into the global economic fold. As a result, it is no longer immune to volatility in international markets; while the continent was largely cushioned from the fallout of the Global Financial Crisis in 2008, over the last 12 months, rising inflation, interest rate hikes, and broken supply chains, which have wreaked havoc in developed economies, are now taking their toll on Africa.