{"id":10603,"date":"2017-01-27T17:03:41","date_gmt":"2017-01-27T16:03:41","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=10603"},"modified":"2017-01-27T17:03:41","modified_gmt":"2017-01-27T16:03:41","slug":"sub-saharan-africa-2016-economic-growth-lowest-in-20yrs-imf","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/sub-saharan-africa-2016-economic-growth-lowest-in-20yrs-imf\/","title":{"rendered":"Sub-Saharan Africa 2016 economic growth lowest in 20yrs \u2013 IMF"},"content":{"rendered":"

The Sub-Saharan Africa recorded the lowest economic growth in 2016, the lowest in 20 years, the Managing Director of the International Monetary Fund (IMF), Ms Christine Lagarde said on Friday.<\/p>\n

Lagarde, who made the remarks in her speech: \u201cBecoming the Champion: Uganda\u2019s Development Challenge\u201d in Kampala, said the sub-region\u2019s economy grew in 2016 at about 1.5 per cent<\/p>\n

\u201cSub-Saharan Africa\u2019s growth in 2016 was the lowest in 20 years at about 1.5 percent, and is projected to reach only 2.7 per cent in 2017.
\n\u201cCommodity exporters have experienced a particularly rapid deceleration.<\/p>\n

The policy response in many African countries has been delayed and incomplete. So the end result has been uncertainty.<\/p>\n

\u201cPrivate investment is falling, stifling new sources of growth,\u201d Lagarde said in the speech obtained by the\u00a0News Agency of Nigeria.<\/em><\/p>\n

The IMF chief noted the economic crunch that befell the sub-region in 2008 and how it weathered the global financial crisis.<\/p>\n

\u201cLet us begin with the big picture. Sub-Saharan Africa is increasingly integrated into the global economy.<\/p>\n

\u201cThe region weathered the 2008 global financial crisis in large measure because it had pursued sensible policies that reduced debt and built up ample reserves.<\/p>\n

\u201cIt also helped that demand for natural resources from China and other emerging market countries quickly rebounded.\u201d<\/p>\n

She regretted, however, that in the past few years, the fortune has turned as emerging market demand had slowed significantly, and many advanced economies continue to struggle.<\/p>\n

According to her, commodity prices have fallen sharply while access to market financing has tightened.<\/p>

\r\n
Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

\u201cWhile there are recent signs that global growth may be picking up, there are still serious risks. These include rising protectionist sentiment.<\/p>\n

\u201cRestrictions on trade are never helpful, but they would be even more damaging now, given that global trade has slowed since 2012.<\/p>\n

\u201cBut so far, it has been a tale of two Africa\u2019s.<\/p>\n

Notably, East Africa has been one of the region\u2019s brighter spots.<\/p>\n

\u201cThis is partly because policy frameworks have been more effective, and also because its more diversified economies are less reliant on volatile commodities. The end result has been stronger growth,\u201d she said.<\/p>\n

The IMF chief called for massive building of infrastructure, institutions and regional economic integration to accelerate economic growth in the sub-region.<\/p>\n

\u201cUnder-developed infrastructure is a permanent brake on growth.<\/p>\n

\u201cIt prevents businesses from connecting to local, regional, and global markets, and limits their willingness to invest,\u201d she said.<\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

The Sub-Saharan Africa recorded the lowest economic growth in 2016, the lowest in 20 years, the Managing Director of the International Monetary Fund (IMF), Ms Christine Lagarde said on Friday. Lagarde, who made the remarks in her speech: \u201cBecoming the Champion: Uganda\u2019s Development Challenge\u201d in Kampala, said the sub-region\u2019s economy grew in 2016 at about …<\/p>\n","protected":false},"author":11,"featured_media":10604,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[17],"tags":[573],"coauthors":[2392,2393],"class_list":["post-10603","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-news","tag-imf"],"yoast_head":"\nSub-Saharan Africa 2016 economic growth lowest in 20yrs \u2013 IMF - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/sub-saharan-africa-2016-economic-growth-lowest-in-20yrs-imf\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sub-Saharan Africa 2016 economic growth lowest in 20yrs \u2013 IMF - National Wire\" \/>\n<meta property=\"og:description\" content=\"The Sub-Saharan Africa recorded the lowest economic growth in 2016, the lowest in 20 years, the Managing Director of the International Monetary Fund (IMF), Ms Christine Lagarde said on Friday. Lagarde, who made the remarks in her speech: \u201cBecoming the Champion: Uganda\u2019s Development Challenge\u201d in Kampala, said the sub-region\u2019s economy grew in 2016 at about …\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nationalwire.com.ng\/sub\/sub-saharan-africa-2016-economic-growth-lowest-in-20yrs-imf\/\" \/>\n<meta property=\"og:site_name\" content=\"National Wire\" \/>\n<meta property=\"article:published_time\" content=\"2017-01-27T16:03:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2017\/01\/download-5.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"366\" \/>\n\t<meta property=\"og:image:height\" content=\"137\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dayo Emmanuel\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/\",\"name\":\"National Wire\",\"description\":\"About Nigerians, Nigerian Business and Other Stories\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/sub-saharan-africa-2016-economic-growth-lowest-in-20yrs-imf\/#primaryimage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2017\/01\/download-5.jpg\",\"contentUrl\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2017\/01\/download-5.jpg\",\"width\":366,\"height\":137},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/sub-saharan-africa-2016-economic-growth-lowest-in-20yrs-imf\/#webpage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/sub-saharan-africa-2016-economic-growth-lowest-in-20yrs-imf\/\",\"name\":\"Sub-Saharan Africa 2016 economic growth lowest in 20yrs \u2013 IMF - National Wire\",\"isPartOf\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/sub-saharan-africa-2016-economic-growth-lowest-in-20yrs-imf\/#primaryimage\"},\"datePublished\":\"2017-01-27T16:03:41+00:00\",\"dateModified\":\"2017-01-27T16:03:41+00:00\",\"author\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/806673c5851717dc3067b1a46a6c060f\"},\"breadcrumb\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/sub-saharan-africa-2016-economic-growth-lowest-in-20yrs-imf\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/nationalwire.com.ng\/sub\/sub-saharan-africa-2016-economic-growth-lowest-in-20yrs-imf\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/sub-saharan-africa-2016-economic-growth-lowest-in-20yrs-imf\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/nationalwire.com.ng\/sub\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Sub-Saharan Africa 2016 economic growth lowest in 20yrs \u2013 IMF\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/806673c5851717dc3067b1a46a6c060f\",\"name\":\"Dayo Emmanuel\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/author\/dayo\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Sub-Saharan Africa 2016 economic growth lowest in 20yrs \u2013 IMF - National Wire","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/nationalwire.com.ng\/sub\/sub-saharan-africa-2016-economic-growth-lowest-in-20yrs-imf\/","og_locale":"en_US","og_type":"article","og_title":"Sub-Saharan Africa 2016 economic growth lowest in 20yrs \u2013 IMF - National Wire","og_description":"The Sub-Saharan Africa recorded the lowest economic growth in 2016, the lowest in 20 years, the Managing Director of the International Monetary Fund (IMF), Ms Christine Lagarde said on Friday. Lagarde, who made the remarks in her speech: \u201cBecoming the Champion: Uganda\u2019s Development Challenge\u201d in Kampala, said the sub-region\u2019s economy grew in 2016 at about …","og_url":"https:\/\/nationalwire.com.ng\/sub\/sub-saharan-africa-2016-economic-growth-lowest-in-20yrs-imf\/","og_site_name":"National Wire","article_published_time":"2017-01-27T16:03:41+00:00","og_image":[{"width":366,"height":137,"url":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2017\/01\/download-5.jpg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_misc":{"Written by":"Dayo Emmanuel","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebSite","@id":"https:\/\/nationalwire.com.ng\/sub\/#website","url":"https:\/\/nationalwire.com.ng\/sub\/","name":"National Wire","description":"About Nigerians, Nigerian Business and Other Stories","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/nationalwire.com.ng\/sub\/sub-saharan-africa-2016-economic-growth-lowest-in-20yrs-imf\/#primaryimage","url":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2017\/01\/download-5.jpg","contentUrl":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2017\/01\/download-5.jpg","width":366,"height":137},{"@type":"WebPage","@id":"https:\/\/nationalwire.com.ng\/sub\/sub-saharan-africa-2016-economic-growth-lowest-in-20yrs-imf\/#webpage","url":"https:\/\/nationalwire.com.ng\/sub\/sub-saharan-africa-2016-economic-growth-lowest-in-20yrs-imf\/","name":"Sub-Saharan Africa 2016 economic growth lowest in 20yrs \u2013 IMF - National Wire","isPartOf":{"@id":"https:\/\/nationalwire.com.ng\/sub\/#website"},"primaryImageOfPage":{"@id":"https:\/\/nationalwire.com.ng\/sub\/sub-saharan-africa-2016-economic-growth-lowest-in-20yrs-imf\/#primaryimage"},"datePublished":"2017-01-27T16:03:41+00:00","dateModified":"2017-01-27T16:03:41+00:00","author":{"@id":"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/806673c5851717dc3067b1a46a6c060f"},"breadcrumb":{"@id":"https:\/\/nationalwire.com.ng\/sub\/sub-saharan-africa-2016-economic-growth-lowest-in-20yrs-imf\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/nationalwire.com.ng\/sub\/sub-saharan-africa-2016-economic-growth-lowest-in-20yrs-imf\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/nationalwire.com.ng\/sub\/sub-saharan-africa-2016-economic-growth-lowest-in-20yrs-imf\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/nationalwire.com.ng\/sub\/"},{"@type":"ListItem","position":2,"name":"Sub-Saharan Africa 2016 economic growth lowest in 20yrs \u2013 IMF"}]},{"@type":"Person","@id":"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/806673c5851717dc3067b1a46a6c060f","name":"Dayo Emmanuel","url":"https:\/\/nationalwire.com.ng\/sub\/author\/dayo\/"}]}},"_links":{"self":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/10603","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/comments?post=10603"}],"version-history":[{"count":1,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/10603\/revisions"}],"predecessor-version":[{"id":10605,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/10603\/revisions\/10605"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/media\/10604"}],"wp:attachment":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/media?parent=10603"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/categories?post=10603"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/tags?post=10603"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/coauthors?post=10603"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}