Africa in 2024

This year will bring more debt distress, respectable growth — especially in Eastern Africa, a number of pivotal elections, and sticky of conflicts and political instability in several countries.

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I: Tough economic times ahead

This year will be a make or break for several of Africa’s leading economies. Some will exploit the window of opportunity created by the current debt crisis to make lasting positive reforms and strengthen their fiscal capacity. Many more will miss the opportunity and instead implement the minimum reforms needed to keep financial support from the IMF, the World Bank, and other donors flowing. Inflation will ease across the board in 2024, but the lasting effects of the hit on households’ purchasing power will endure. Currency depreciations in countries dependent on food imports will exacerbate the squeeze on household incomes.

The projected 4.1% increase in regional GDP, is respectable, but wil…