The International Monetary Fund is cautioning African nations about the possibility of a regional economic downturn and the ripple effects that China's slowing economy could bring.
Africa and China have forged economic ties over the past 20 years, making the Asian giant the continent's largest trading partner. Africa exports metals, minerals and fuel to China, while importing manufactured goods and machinery from that country.
"Up to now they have not reopened well," Ibrahim said."In terms of movement of people within the country, they even restricted when you travel to China. You undertake serious checks on health issues. There were ... challenges, both economic and health wise." "When African economies are affected either by drought or other problems that may affect various sectors, the negative effect is felt in China," Iriara said."If it's ... happening in China, the negative effect is felt in Africa.There was a problem processing your submission. Please try again later.
"The goods that we used to buy with the relatively cheap prices before the COVID are now triple the price that we currently buy with," he said.
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