On Tuesday the IMF released its World Economic Outlook, this is what it revealed about Africa and trade wars in charts.

By Charlie Robertson, Global Chief Economist, Renaissance Capital

What grabbed my attention is that Ghana is expected to be the fastest growing economy, not just in Africa (shown below) but in the world ! Up 8.8% (pipping South Sudan by 0.01% – I guess Ghana is more popular in DC).



Source: IMF, Renaissance Capital

And that Africa has 4 of the top 5 fastest growing economies in the world. And to those who say, yeah but they’re poor, .. that did not help Africa take the top spots in the 1980s or 1990s. Something’s changed ..


Source: IMF, Renaissance Capital

Given the global trade wars – I liked this chart too. In terms of current account surpluses – China does not make the top 10. Meanwhile the UK is the second worst in the world in $bn terms. It’s a good thing we don’t have a political crisis that might jeopardise funding or anything like that. Ah yes – EM rules don’t apply to the UK (yet).

There is talk that once Trump is done with China he will turn his trade war onto Germany .. and this chart offers support for that.


Source: IMF, Renaissance Capital