Regional Economic Outlook, Sub-Saharan Africa, October 2023

Download or read book Regional Economic Outlook, Sub-Saharan Africa, October 2023 written by International Monetary and published by International Monetary Fund. This book was released on 2023-10-10 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: Still emerging from the COVID-19 pandemic, countries in sub-Saharan Africa have been hit by a sluggish global economy, worldwide inflation, high borrowing costs, and a cost-of-living crisis. In many cases, inflation is still too high, borrowing costs are still elevated, exchange-rate pressures persist, and political instability is an ongoing concern. To ensure that the coming rebound is more than just a transitory glimpse of sunshine, it is important for authorities to guard against a premature relaxation of stabilization policies, while also focusing on reforms to both claw back lost ground from the four-year crisis and also to create new space to address the region’s pressing development needs.