IMF recommends the lowering of trade restrictions in Africa.

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According to the International Monetary Fund, removing trade restrictions between African nations will assist 50 million people escape poverty. The removal of trade barriers, according to the IMF, would boost the average amount of products traded between African nations by 53%.

The report also stated that it would rise by 15% for the remainder of the world. It concludes that removing trade barriers would boost average goods trade between African nations by 53% and with the rest of the world by 15%, increase average real per capita GDP in African nations by more than 10%, and assist in bringing an estimated 30–50 million people out of extreme poverty. 

“The Washington DC based body said successful implementation of the African Continental Free Trade Agreement could unlock important benefits in the continent.

Punch.

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