Kenya surpassed Angola as sub-Saharan Africa’s third-largest economy in dollar terms, according to International Monetary Fund estimates.
Bloomberg reports that Angola has contracted every year since 2016 as oil output declined, and the kwanza was devalued in 2019 while Kenya’s shilling held steady.
The coronavirus pandemic and restrictions to limit its spread will probably see Angola’s gross domestic product contract 1.4 per cent in 2020, while Kenya’s is projected to grow by one per cent, according to the IMF.
Source/Bloomberg
