IMF ready to help Africa weather Middle East shock, says Zeidane
IMF African Department Director Zeine Zeidane has pledged support for sub-Saharan African nations struggling with economic fallout from Middle East conflicts. The fund is providing augmented financing to several countries to mitigate risks to food security and production costs caused by supply chain disruptions.
Why it matters
The intervention highlights the vulnerability of African economies to geopolitical instability in the Middle East, particularly regarding fertilizer supply and food security, which could impact regional growth.
International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., as IMF Managing Director Christine Lagarde meets with Argentine Treasury Minister Nicolas Dujovne September 4, 2018. REUTERS/Yuri Gripas/File Photo LONDON (Reuters) The International Monetary Fund s new Africa chief, Zeine Zeidane, said that conflict in the Middle East has created difficulties for sub-Saharan Africa but reaffirmed the fund s commitment to aiding nations under economic strain.
The article reports on official IMF statements and economic data without using loaded language or taking a political stance on the conflict.
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