She
made this statement on Thursday while addressing the press at the ongoing
International Monetary Fund annual meetings holding in Washington.
She said, “Sub Saharan
Africa (which Nigeria is part of one) is one region of the world where growth
is way suboptimal. Those countries 2.5 percent. That is too low for the
demographic expansion of the region.
“There are different
countries if we are to look Rwanda it is a different situation from that of
Togo and Ghana is going to be different from Mozambique and so on.
“It is still to low for the
demographic growth. For that region to take advantage of the demographic
dividend of all the young people who are coming up and trying to have access to
the economy and have a job, it is too low.”
Lagarde said the
organisation would engage commodity-dependent countries on building up their
buffers as such countries are not faring as well as countries with diversified
economies.
“We are engaging them in the
direction of stabilising; for those that are doing well, build up their buffers
and more importantly, diversify the sources of their economic growth.
“What
we observed is that those that are heavily commodity dependent are faring less
well than those that are well diversified,” she stated.
Source: Spectrumng
