KIGALI ({{Reuters}}) – {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.}<\/p>\n
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. <\/p>\n
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.<\/p>\n
“Momentum is slowing in many advanced and emerging economies, including China \u2014 one of Africa\u2019s main trading partners,” Lagarde told Rwandan lawmakers in the capital Kigali. <\/p>\n
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.<\/p>\n
African countries such as Nigeria and South Sudan depend on oil for the majority of their revenues.<\/p>\n
Lagarde said some African oil exporters will struggle in case oil prices remain low and warned of instability once the United States starts imminent “monetary policy normalization”, a move that is expected to see the U.S. raise interest rates.<\/p>\n
“Even if this process is well-managed and well-communicated \u2013 and I believe that it has been and will be \u2013 there could be negative effects for emerging markets and global financial stability. African economies could also be impacted,” she said.<\/p>\n
Hurt by cooling investment, manufacturing and a sagging housing market, China’s economy grew 7.4 percent last year, a level not seen since 1990 when the country was hit by sanctions after the Tiananmen Square crackdown.<\/p>\n
A Reuters poll in January showed China’s economic growth was expected to slip to 7 percent this year before dipping to 6.8 percent next year.<\/p>\n","protected":false},"excerpt":{"rendered":"
KIGALI ({{Reuters}}) – {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 […]<\/p>\n","protected":false},"author":3,"featured_media":2000056014,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[75],"byline":[170],"hashtag":[],"class_list":["post-18418","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-homenews","byline-igihe"],"bylines":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"contributors":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"featured_image":{"id":2000056014,"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton18418.jpg","alt":"","caption":"","mime_type":"image\/jpeg","width":0,"height":0,"sizes":{"thumbnail":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton18418.jpg","width":1,"height":1},"medium":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton18418.jpg","width":1,"height":1},"medium_large":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton18418.jpg","width":1,"height":1},"large":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton18418.jpg","width":1,"height":1},"full":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton18418.jpg","width":0,"height":0}}},"_links":{"self":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/18418","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/comments?post=18418"}],"version-history":[{"count":0,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/18418\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media\/2000056014"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=18418"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=18418"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=18418"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=18418"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=18418"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}