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Africa must reduce fiscal deficits as economic growth rebounds: IMF

26-Oct-2010 7:26 AM

International Monetary Fund (IMF) Head Africa Department Head Antoinette Sayeh stated sub-Saharan African governments must commence trimming fiscal deficits as economic growth in the region returns to levels seen before the global financial crisis (Bloomberg, 25-Oct-2010). Sub-Saharan African governments maintained spending levels as the global recession reduced exports in 2009 pushing up fiscal deficits to an average of 7.2% of GDP.