Top 5 economies in Sub-Saharan Africa to watch out for in 2023, according to IMF.
T op 5 economies in Sub-Saharan Africa to watch out for in 2023, according to IMF. 🚜🚜 Just as Africa's economy appeared to be recovering from the COVID-19 pandemic, a series of internal and external shocks such as adverse weather conditions and the Russian invasion of Ukraine hit, worsening already rapidly rising rates of inflation and borrowing costs in 2022. One could argue that Africa's direct trade and financial ties with Russia and Ukraine are minor, but there is evidence that the war has harmed the continent's economies through higher commodity prices, higher food, fuel, and headline inflation. . Despite these challenges, Africa continues to be home to some of the world's fastest-growing economies. According to the International Monetary Fund's World Economic Outlook, five of the world's fastest-growing economies are Angola, Ethiopia, Nigeria, Kenya, and South Africa, according to Business Insider Africa. This economy has the potential to quadruple ...