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35

IMF: Africa Copes with Oil Prices

African countries are dealing better with the current rising price of oil

The International Monetary Fund says African countries are dealing better with the current rising price of oil than they did during similar price hikes in previous years.

Sanjeev Gupta, Assistant Director of the IMF's African department said, "Overall, we are seeing a greater resilience from African economies".

Mr Gupta cited Ghana as an example, saying it had provided improved transport for some of the urban poor and removed fees for primary schools, as ways of helping families deal with the rising cost of fuel.

The IMF says a number of oil importing countries, such as Zimbabwe, Burundi, Seychelles and the Democratic Republic of Congo saw inflation stoked by the rising cost of petroleum products.