IMF cuts Africa growth forecast over Ebola Virus

The International Monetary Fund (IMF) has reduced its growth forecast for sub-Saharan Africa because of the outbreak of the Ebola virus in West Africa and violence in at least five other countries.

Africa’s economy will expand 5 per cent this year, about the same as in 2013, driven by infrastructure investment, a buoyant services sector and strong agriculture production, the IMF said today in an e-mailed statement. In April, the Washington-based fund forecast a 5.5 per cent growth rate this year.