Abebe Aemro Selassie, Director of the IMF’s African Department
The International Monetary Fund (IMF) has emphasised that Africa’s prosperity presents a significant opportunity for the global economy, calling for deeper collaboration amid rising global trade tensions.
Speaking at a press briefing on the Regional Economic Outlook for Sub-Saharan Africa on Friday, April 25, 2025, Abebe Aemro Selassie, Director of the IMF’s African Department, said the region is poised to become the main source of labour, investment, and consumption over the next decade.
“A strong, stable, and prosperous Africa is important not just for its people, but for the world,” Selassie stated.
The event was part of activities for the 2025 Spring Meetings of the IMF and the World Bank Group (WBG) in Washington, DC, USA.
Despite heightened global uncertainty driven by trade disputes, Selassie stressed that external support for Africa, as it undergoes a critical demographic transition, is of “tremendous strategic importance for the future of our planet.”
The IMF projects Sub-Saharan Africa’s economic growth to ease slightly to 3.8% in 2025, with a modest rebound to 4.0% in 2026. However, Selassie cautioned that escalating global trade tensions could dampen the region’s outlook.
The Regional Economic Outlook report noted a worrying decline in official development assistance to the region, even as many countries grapple with inflationary pressures and external shocks, just as early signs of policy success begin to emerge.
“Building robust fiscal and external buffers is more important than ever, underpinned by credibility and consistency in policymaking,” Selassie advised.
He emphasised that Sub-Saharan Africa must improve spending efficiency and strengthen public financial management to unlock benefits for its citizens.
High economic growth, he added, is imperative to create the millions of jobs the region needs to sustain its expanding workforce.
Reaffirming the IMF’s commitment, Selassie noted that since 2020, the Fund has disbursed more than US$65 billion to Sub-Saharan Africa, including over US$8 billion in the past year alone.
He also pledged that the IMF would continue to expand its policy advice and capacity development efforts to support the region’s economic resilience.
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