IMF boss hails 'remarkable' African growth

IMF managing director Christine Lagarde today hailed the leaps made by African economies in the last decade as "nothing short of remarkable."
On the eve of a major conference in Maputo that will bring together policymakers from across the region, Lagarde said it was time to kick start the "next phase of its economic development."
The sub-Saharan Africa region is expected to grow at more than five percent this year according to the IMF's latest projections, after similar growth last year.
But there was a note of caution amid the breakneck economic expansion.
"There is still a long way ahead to meet the aspirations of the continent: extreme poverty is still too prevalent and there are new challenges posed by the global economy," she said.

As policymakers take stock of Africa's strong economic performance, many are also looking at the risks that lie ahead.

The region could face lower demand for its exports should growth slow in increasingly important emerging markets like Brazil, India and, in particular, China.
Beijing is a top buyer of African resources from copper to oil and gas.
In rapidly growing cities like Maputo the Chinese presence is manifest, from a Chinese-built airport to the country's businessmen chattering on cell phones as they walk from meeting to meeting.