Sub-Saharan Africa faces severe slump, IMF warns
The International Monetary Fund warned on Tuesday that economies in sub-Saharan Africa were facing a "severe downturn" and called for a strong public-policy response both domestically and internationally.
The Fund revised its growth forecast for sub-Saharan Africa to 1.5% in 2009 from the 3.25% estimate predicted in March. It said growth will recover to just below 4%, which would still below pre-crisis levels, in 2010. In the past three years, growth in sub-Saharan Africa averaged 6%.
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