Africa free trade area may lift 50 million people out of extreme poverty, says IMF | Business

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Africa’s continent-wide free-trade area, if successfully implemented, could significantly boost economic growth and improve living standards at a time of rising geopolitical tensions and climate change, the International Monetary Fund said in a study.

"Greater trade openness would help countries adapt to climate change and to strengthen food security, including by improving the availability and affordability of food supplies,” the IMF said in its"More diversified and broad-based trade would reduce the impact of disruptions in specific markets and products that could result from shifts in global trade patterns.

"These reductions could increase the median merchandise trade flow between African countries by 15% and median real per-capita GDP by 1.25%,"or more if combined with substantial improvements in the trade environment, the lender said.

 

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