00:00The Middle East war is threatening to derail economic gains made across sub-Saharan Africa last year.
00:07Rising fuel prices, disruptions in trade and tightening financial conditions
00:12have seen the IMF downgrade its projected growth forecast for the region.
00:17Meanwhile, inflation is expected to rise.
00:21Notwithstanding these challenges, it's been really good to see the region showing strong resilience.
00:28But this will continue to be tested in the coming months.
00:32Pressure points include rising debt service costs, which are crowding out development spending,
00:38a shift towards domestic financing that has deepened the sovereign bank nexus,
00:45inflation that has eased at the regional level but remains in double digits in quite a few countries in the
00:51region,
00:51and external buffers that are under pressure and need to be rebuilt.
00:56The IMF said immediate priorities should be to contain inflation and protect vulnerable populations.
01:03Longer term, it urged governments to invest in human capital and accelerate reforms, boosting private sector growth.
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