Jan 24, 2012
Even as rich countries face a slowdown, sub-Saharan African economies are expected to post nearly six per cent average growth in 2012, according to the IMF. But the wealth has a flip side, notes this Reuters article. 'The consumption boom has been fueled by fast-growing credit. In Kenya and elsewhere that has sucked in imports - cars, shoes, clothes, wines and whiskies - and swelled the current account deficit. Inflation in Kenya is now nearing 20 per cent. As always, high inflation hurts the poorest most.'
































