The International Monetary Fund (IMF) headquarters is seen Monday, Dec. 19, 2016, in Washington. -

The International Monetary Fund (IMF) headquarters is seen Monday, Dec. 19, 2016, in Washington.

Last updated: 3 hours ago

IMF

The International Monetary Fund’s new Africa chief, Zeine Zeidane, says conflict in the Middle East is creating fresh economic challenges for sub-Saharan Africa, but insists the IMF remains committed to supporting countries under pressure.

Since taking over the IMF’s African Department in May, Zeidane has made helping nations weather the shock his top priority.

The fund has already approved additional financing support for Burkina Faso, The Gambia and São Tomé and Príncipe, while accelerating around $200 million in funding for Ethiopia.

Zeidane warns disruptions to trade, energy and fertilizer supplies could persist for months.

Yet he remains optimistic, saying Africa is poised to become the world’s next major engine of growth if its economic potential is fully unlocked.

IMF New Africa Boss Says Middle East War Causes Trouble, But Sees Better Future for Africa

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