According to the World Bank, long-term growth outlook for developing economies is compromised by a slowdown in investments, due to a weak global economy.

Amongst regions that receive the least investments is sub-Saharan Africa where the recent poor performances of leading commodity exporters like Nigeria, South Africa and Angola hampered efforts to reduce poverty.

In its latest release of global economic outlooks, the Bank highlighted a long-term degradation. It said the slump in investments in developing economies has slowed growth in productivity.

In an interview, Paul Romer, chief economist at the World Bank, said the long-term impact of lower investments on the economies, is one of the main challenges which the world faces currently. He also noted that global capital markets only provide necessary financial resources to third world countries.

Moreover, the World Bank has forecast last Sunday, a growth of 2.6% for sub-Saharan Africa, this year, up from 1.3% in 2016. In 2018, the region, which counts 44 countries, should grow by about 3.2% according to the Washington-based institution.

Fiacre E. Kakpo