Experts call for measures to avert economic crisis in Africa

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Experts call for measures to avert economic crisis in Africa

STORY: Experts call for measures to avert economic crisis in Africa DATELINE: Oct. 27, 2022 LENGTH: 00:01:39 LOCATION: Nairobi CATEGORY: ECONOMY SHOTLIST: 1. various of the Regional Economic Outlook STORYLINE: Financial experts on Tuesday called for the effective implementation of measures in order to avert an economic crisis in Africa. Catherine Pattillo, deputy director of the African Department at the International Monetary Fund (IMF), said in Nairobi, Kenya's capital, that the global recession coupled with rising food and energy prices is likely to impact the region's most vulnerable residents. "African policymakers should prioritize interventions that boost social safety nets as one of the avenues toward sustainable economic recovery," Pattillo said during a discussion on the IMF's Regional Economic Outlook. She noted that the implementation of fiscal consolidation will help reduce budget deficits as well as external borrowing costs. Pattillo also called for enhanced domestic resource mobilization

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