Despite the very tense socio-political situation in Niger, this country should experience impressive growth. At least that’s what one report is titled Navigating Global Divergences of the International Monetary Fund. According to the figures presented by the institution, the growth projection for the country now led by the military was 11.1%. This is a projection that is the highest of any country in sub-Saharan Africa.
This forecast according to the report is justified by several factors. We note, in particular, that these economic results announced in the coming months are linked to technological progress, policy changes and emerging industries. The International Monetary Fund notes, however, that growth in emerging and developing market economies is expected to fall moderately, from 4.1% in 2022 to 4.0% in 2023 and 2024.
The report titled Navigating Global Divergences also notes that, global inflation is expected to gradually decline due to a tightening of monetary policy supported by falling international commodity prices, from 8.7% in 2022 to 6.9% in 2023 and to 5.8% in 2024. It should be noted that despite the tense political situation in Niger, its growth projection by the IMF exceeds Senegal (8.8%), Libya (7.5%), Rwanda (7 .0%), Ivory Coast (6.6%).
We remember that for several months, Niger has been ruled by the army after a coup d’état that overthrew President Mohamed Bazoum. This country is sanctioned by sub-regional organizations and now maintains rather strained relations with Western countries such as France. Benin has closed the border with Niger, thus interrupting trade with this neighbor. Niger, on the other hand, has strengthened its partnership with Burkina and Mali, two countries also led by the military.