Oil prices have bounced back somewhat but the IMF's latest Regional Economic Outlook for Sub-Saharan Africa shows why energy exporters shouldn’t get too comfortable. "The level of oil prices that we see currently don’t imply growth rates in the future that are high enough, and that are anywhere near what we had seen before the oil slump.” Papa N’Diaye is head of research in the IMF’s African Department, and in this podcast, he says while the macroeconomic outlook for sub-Saharan Africa continues to strengthen–thanks to ongoing reforms and stronger global growth, growth rates still fall short of what the region really needs. N’Diaye oversaw the writing of this latest regional economic outlook.
Photo: Now What? Growth rates in sub-Saharan Africa are too low to create enough jobs for its growing labor force. (iStock by Getty Images/peopleimages).