Home News Intra-Africa trade can spare continent Euro fallout

Intra-Africa trade can spare continent Euro fallout

by Business News Report

African countries can prepare for the impact of the euro-zone crisis that threatens to derail economic growth on the continent by improving trade between their countries and fighting inflation, a top World Bank economist said on Sunday.
World Bank’s Vice President for Africa, Obiageli Ezekwesili said the traditional partners of Africa in Europe were likely to be affected by the fallout of the European debt crisis, which would squeeze remittances, curb trade and tourism. Ezekwesili said Africa’s economic growth forecast for this year stood at 5.3 per cent and 5.6 for 2013, but a recession would likely lead to a 1.7 per cent contraction in 2012.

Related Posts