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IMF chief says Africa vulnerable to higher food, fuel prices due to Ukraine war -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: Kristalina Georgieva is the IMF’s managing director, speaking at an IMF conference about economic solidarity. The event was hosted by Vatican on February 5, 2020. REUTERS/Remo Casilli/

WASHINGTON, (Reuters) – Africa’s economy is at risk from higher fuel and food prices resulting in Russia’s invasion Ukraine. Also, reduced tourist revenues and less access to financial services will impact the region’s outlook.

Georgieva stated that “a recalibration in policies seems inevitable in many countries” in comments to African central bank governors and finance ministers. The Fund is ready to assist African countries in this time of difficulty by providing policy advice and capacity development as well as lending.

This story was rewritten to include the dropped “to” word in the headline.

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