Pierre Olivier Gourinchas, Chief Economist and Director of the Research Department at the IMF, has stressed the need for Sub-Saharan African countries to prioritize measures that foster sustainable growth.
Gourinchas spoke to the media following his week-long visit to Ghana, where he conducted an economic data review, noting that global economic conditions are expected to ease due to a slowdown, which will further affect the region.
He highlighted several challenges facing sustained growth in Sub-Saharan Africa, despite the continent’s favorable demographics.
“As monetary conditions improve and inflation is brought under control, we anticipate a positive impact,” he stated. “However, it’s crucial for the region to establish the necessary conditions for sustained growth.”
He pointed out that Africa is rich in assets and opportunities, particularly with its youthful population poised to enter the workforce, which can enhance the region’s economic outlook.
“One key challenge will be equipping this eager population with the skills and education needed to thrive in the global economy,” he added.
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Source: Flora Tang/ATLFMNEWS
