Strauss-Kahn, who arrives in Kenya on March 6, will also visit South Africa and Zambia to reinforce the IMF’s improved relations with the continent, talk with political and business leaders, and promote the continued transformation of Africa.
“As I’ve said many times in the past, African countries were largely innocent victims of the crisis. Thankfully, the tide seems to have turned and all across the continent, we can see signs of a rebound—in trade, export earnings, bank credit, and commercial activity.” Strauss-Kahn told reporters before leaving.
Stronger policies
Stronger monetary and budget policies, together with structural reforms in many countries, helped Africa come through the global financial crisis better than in the past, IMF First Deputy Managing Director John Lipsky said last month during a trip to Ghana and Liberia.
Although growth across sub-Saharan Africa plummeted during the global crisis to an average of 2 percent in 2009 from 5.6 percent the previous year, the IMF projects that it will bounce back to 4½ percent this year and 5½ percent in 2011. Antoinette Sayeh, head of the IMF’s African Department, points to several important factors that helped African economies weather the crisis.
Source: IMFSurvey Magazine
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