| African commodity exporters risk a “disorderly” hit to their economies if they don’t adapt to the reality of low prices, said a senior official at the International Monetary Fund. Some governments in sub-Saharan Africa have been slow to “internalize” the fact that prices of oil and other commodities are likely to remain low, said Abebe Aemro Selassie, director of the IMF’s Africa department.
Countries need to let their currencies adjust to lower demand, while shoring up their budget balances, implementing reforms to improve competitiveness and cushioning the impact on the poor, he said.........................................Full Article: Source
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