IMF’s Lagarde Warns African Economies of Headwinds from China, U.S

International Monetary Fund head Christine Lagarde has warned that African economies could be hurt by a slowdown in China’s economy and an imminent hike in United States interest rates.

Lagarde, speaking on Tuesday on a visit to Rwanda, said IMF’s global economic forecasts have been revised down over the past few months despite a huge fall in oil prices.

Lagarde called for “vigilance” across Africa and added this slower growth has implications for a continent that is now more integrated into the global economy than ever before.

“Momentum is slowing in many advanced and emerging economies, including China — one of Africa’s main trading partners,” Lagarde told Rwandan lawmakers in the capital Kigali.

Lagarde said the overall outlook for sub-Saharan Africa was promising at close to 5 percent, but growth forecasts for the region have been trimmed due to lower oil and commodity prices.

Reuters

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