Falling Aid: IMF urges Africa to build internal capacity

By Emma Ujah, Abuja Bureau Chief
The International Monetary Fund (IMF) has raised concerns over declining Official Development Assistance (ODA) to Sub-Saharan Africa, warning that countries in the region must strengthen internal economic and institutional capacity to withstand the shock.
In its Country Focus: Economic Developments in Countries and Regions report released yesterday, the Fund said: “For decades, official development assistance has been a central pillar of financing in Sub-Saharan Africa. That pillar is now weakening—quickly and broadly.”
It added that with aid becoming less predictable, resilience will increasingly depend on stronger domestic institutions, improved re...