A team from International Monetary Fund (IMF) led by Deputy Director Africa Department, Ms Catherine Patillo and Resident Representative Mr Tobias Rasmussen visited KIPPRA on 25th October 2022. The team was received by Executive Director Dr Rose Ngugi and a host of KIPPRA staff drawn from macroeconomics, productive, private sector development, and governance departments. Discussions centred on the launch of regional economic outlook and potential areas of collaboration including capacity building of KIPPRA staff by IMF.
The IMF team also got an opportunity to learn more about ongoing research at the institute. KIPPRA staff present at the meeting explained in detail ongoing research activities, the IMF team provided a glimpse of the regional economic outlook noting that growth in 2022 will drop to 3.6 percent from 4.7 percent in 2021. Ms Patillo also noted that the average debt to GDP ratio in Sub-Saharan Africa is 60% with inflation almost doubled and 123 million people food insecure.