Free trade agreement to boost growth in Africa – IMF research
Smaller economies are more likely to benefit from more open trade conditions in the continent
The African Continental Free Trade Area (AfCFTA), signed in 2018, will boost welfare in the continent between 2% and 4%, says research published by the International Monetary Fund.
In the working paper, researchers analyse the welfare gains member economies are likely to experience. The free trade agreement is expected to cover all 55 African countries, with an estimated combined GDP of $2.5 trillion and a population of more than one billion people.
The study estimates the impact AfCFTA may
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