Lower inflation and interest rates, as well as easing supply-side constraints, should lead to a pick-up in regional growth in the coming quarters. But multiple headwinds, including (for some) a decline in commodity prices and (for most) tight fiscal policy, will hold back the pace of recovery. The continent is relatively unexposed to protectionist trade policy in the US, although a stronger dollar presents a challenge for economies with weak balance sheets, particularly Kenya and Mozambique.
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