The International Monetary Fund says that after four "turbulent" years, the economic outlook for sub-Saharan Africa is "gradually improving." 

The Bretton Woods institution said growth will rise from 3.4 per cent in 2023 to 3.8 per cent in 2024, with nearly two-thirds of countries anticipating higher growth. Economic recovery is expected to continue beyond this year, with growth projections reaching 4 per cent in 2025. 

Additionally, inflation has almost halved, public debt ratios have broadly stabilised, and several countries have issued Eurobonds this year, ending a two-year hiatus from international markets.

However, the IMF warns that "not all is favourable." 

"The funding squeeze persists, as the region’s governments continue to grapple with financing shortages, high borrowing costs, and impending debt repayments," the Fund explained. 

It said risks to the outlook "remain tilted to the downside." 

"The region continues to be more vulnerable to global external shocks, as well as the threat of rising political instability and frequent climate events." 

"Three policy priorities can help countries adapt to these challenges: improving public finances without undermining development; monetary policy focused on ensuring price stability; and implementing structural reforms to diversify funding sources and economies", the Fund proposed. 

Amid these challenges, sub-Saharan African countries, the IMF noted, "will need additional support from the international community to develop a more inclusive, sustainable, and prosperous future".