Russia’s invasion of Ukraine on February 24 has delivered a further “huge negative shock” to Sub-Saharan Africa, driving food and energy prices higher and putting the most vulnerable people at risk of hunger, the head of the IMF’s Africa department told Reuters.
“It’s a recipe for very, very difficult policymaking, but also the social environment,” Selassie said. “This is a crisis, which is almost laser-focused on hitting the most vulnerable people in the most vulnerable countries acutely.” The IMF raised its forecast for average regional inflation by a full 4 percentage points, which would be the worst outcome since 2008. Inflation would hit double digits in 11 countries, of which almost half are fragile.
Selassie said he was particularly worried about social unrest in countries in the Sahel and others that are already food-insecure and face significant security challenges.
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