While lauding resilience across the continent, the Washington-based lender now expects its 54 economies to expand by 3.9 percent this year, down from its October forecast of 4.2 percent, it said in a joint statement by its Managing Director Kristalina Georgieva and Hervé Ndoba, the Central African Republic’s Minister of Finance and Budget who is Chair of the African Caucus.
‘’The strong policy actions that have been taken to bring down inflation, stabilize public debt, and reduce external imbalances risk being undone in the face of further shocks,’’ the statement said. “Risks to the outlook are high amid elevated uncertainty and there are significant differences across countries, with fragile and conflict affected states facing particularly acute challenges.’’
