Sub-Saharan Africa income further falls behind rest of the world

Sub-Saharan Africans’ income is further decreasing compared to the rest of the World amid a lackluster economic growth, the International Monetary Fund Said.

Amid a surge in geopolitical conflicts and climate change devastating impacts, Sub-Saharan African economies would only grow by 3.8% this year, up from 3.4% in 2023, the IMF said in a report.

“When accounting for population growth, the income gap with the rest of the world is widening,” the fund said in its biannual Regional Economic Outlook report, launched during its Spring Meetings this week in Washington.

Meanwhile, other developing countries reported that real income per person more than tripled since 2000, compared with only 75% growth in Sub-Saharan Africa and 35% in developed countries.