African economies weather energy crisis, says IMF

The IMF forecasts African economic growth of 4.5% this year, slightly above its previous estimates, rising to 5% in 2027. Despite the effects of the war in Iran, the continent’s economies have weathered the energy crisis, but development aid fell sharply last year and is expected to decline by a further 12% this year. Zeine Zeidane, head of the IMF’s Africa department, warned that the drop leaves the region with little room to absorb new shocks, including energy supply disruptions, increased global risk aversion or a powerful El Niño. Persistent conflicts and insecurity also threaten regional economies and food security.