Strong Growth in Sub-Saharan Africa, but Pockets of Difficulty – IMF

Strong growth in the majority of sub-Saharan Africa’s economies should underpin a robust regional expansion in 2014 and 2015, the IMF said in its regional outlook.

In most countries, growth benefits from a combination of infrastructure investment, expanding services, and robust agricultural production. Growth momentum remains particularly strong in Nigeria, the region’s largest economy, and in the region’s low income countries. Recent revisions of national accounts data, notably in Nigeria, have also revealed that the economies of the region are more diversified than previously thought, highlighting in particular the large role played by services.