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The International Monetary Fund (IMF)’s new Africa chief, Zeine Zeidane, has said conflict in the Middle East is creating new economic challenges for sub-Saharan Africa, but insists the IMF remains committed to supporting countries under pressure.
Since taking charge of the IMF’s Africa Department in May, Zeidane has made it his main focus to help African countries address economic challenges.
The IMF has already approved additional financial support for Burkina Faso, The Gambia, and São Tomé and Príncipe.
It has also fast-tracked about $200 million in funding for Ethiopia.
Zeidane warned that problems affecting trade, energy, and fertiliser supplies could continue for several months.
However, he remains hopeful, saying Africa has the potential to become one of the world’s biggest drivers of economic growth if its resources and opportunities are fully developed.
