Africa is in a slump for the first time in two decades

The economic outlook for Africa keeps getting worse. Growth in the 45 countries that make up Sub-Saharan Africa will drop to its lowest level in more than 20 years, says the International Monetary Fund. It projects a drop to 1.4% this year, less than half last year’s 3.5% and way below the 5% plus the region enjoyed between 2010 and 2014.

The IMF blames falling commodity prices and continued weakness in global financial markets for the slide. And things are not turning around any time...

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