{"id":15387,"date":"2012-10-09T05:38:54","date_gmt":"2012-10-09T03:38:54","guid":{"rendered":"http:\/\/www.myza.co.za\/10\/imf-cuts-2012-africa-growth-forecast-raises-outlook-for-2013\/"},"modified":"2012-10-09T05:38:54","modified_gmt":"2012-10-09T03:38:54","slug":"imf-cuts-2012-africa-growth-forecast-raises-outlook-for-2013","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/imf-cuts-2012-africa-growth-forecast-raises-outlook-for-2013\/","title":{"rendered":"IMF cuts 2012 Africa growth forecast, raises outlook for 2013"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span class=\"articleLocation\">TOKYO<\/span> Oct 9 (Reuters) &#8211; The International Monetary Fund on<br \/>\nTuesday cut its 2012 forecast for Africa along with most other<br \/>\ncountries around the world as the euro zone crisis dampens<br \/>\nglobal demand and higher food prices weigh on food-importing<br \/>\ncountries in the region.<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>In its latest World Economic Outlook, the IMF shaved its<br \/>\n2012 projections for Africa to 5 percent from 5.4 percent.<br \/>\nHowever, it revised up its 2013 outlook to 5.7 percent from 5.3<br \/>\npercent.<\/p>\n<p><span><\/span><\/p>\n<p>The Fund said spillovers from the euro zone crisis into<br \/>\nAfrica have so far been modest except for South Africa, which<br \/>\nhas close financial and trading ties with Europe.<\/p>\n<p><span><\/span><\/p>\n<p>The IMF cut its 2013 forecast for South African growth to 3<br \/>\npercent from a July projection of 3.3 percent mainly due to the<br \/>\nimpact from the continuing euro zone debt crisis. It maintained<br \/>\nits 2012 projection of 2.6 percent.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;If the euro area crisis escalates further and global growth<br \/>\nslows further, Sub-Saharan Africa&#8217;s prospects will be less<br \/>\nfavorable,&#8221; the IMF said.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;South Africa, strongly linked to Europe, would be<br \/>\nparticularly affected, with possible repercussions for some<br \/>\neconomies in southern Africa,&#8221; the Fund said, &#8220;Softer commodity<br \/>\nprices would adversely affect the region&#8217;s natural resource<br \/>\nexporters,&#8221; it added.<\/p>\n<p><span><\/span><\/p>\n<p>The IMF cautioned that African countries could also be hit<br \/>\nif China&#8217;s economy slowed sharply. China&#8217;s economic growth is<br \/>\nexpected to be the lowest in more than a decade this year.<\/p>\n<p><span><\/span><\/p>\n<p>Increasing Chinese foreign direct investment and government<br \/>\nfunding to African countries has made it an important player in<br \/>\nthe region.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;The priority in much of the region is to continue to<br \/>\nstrengthen policy buffers and prepare contingency plans if<br \/>\ndownside risks materialise,&#8221; the IMF added.<\/p>\n<p> (Reporting By Lesley Wroughton; Editing by Neil Fullick)<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>TOKYO Oct 9 (Reuters) &#8211; The International Monetary Fund on Tuesday cut its 2012 forecast for Africa along with most other countries around the world as the euro zone crisis dampens global demand and higher food prices weigh on food-importing countries in the region. In its latest World Economic Outlook, the IMF shaved its 2012 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-15387","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15387","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=15387"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15387\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=15387"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=15387"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=15387"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}