Saturday, 31 May 2014
IMF URGES AFRICA TO INVEST MASSIVELY IN INFRASTRUCTURE DEVELOPMENT
Maputo – Africa’s fast growing economies need to spend $93b a year just to bring infrastructure up to speed, the head of the International Monetary Fund (IMF) said on Thursday, sketching out the daunting challenges still faced by the continent.After years of hailing Africa’s economic development, policy-makers want to usher in a second phase of development that sees economic gains benefit all. While the emergence of a middle class has boosted consumer growth, much of the continent’s growth has come from oil, gas and other natural resources.
at 8:16 am