Source: Graphic Ghana

Africa needs to accelerate its current period of strong growth so that it can start making real inroads into reducing poverty, said Mr John Lipsky, on his first visit to Africa since taking over as the International Monetary Fun (IMF)'s First Deputy Managing Director in September.

The IMF projects' real Gross Domestic Product (GDP) growth in sub-Saharan Africa slowed down to 4.8 per cent in 2006 from 5.6 per cent in 2005.

It is, however, expected to pick up to almost 6.0 per cent the following year. "I believe this is a moment of great opportunity for Africa, where many countries have taken advantage of solid global economic growth and of debt relief to successfully implement reforms," Lipsky said at the end of his visit to Mali.

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Posted by pichu at December 27, 2006 1:24 PM