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S&P Posted: Thu, 15 May 2008 [miningmx.com] -- HIGH commodity prices coupled with the long-term benefits derived from progress made in recent years toward economic stability and structural reforms, will sustain Sub Saharan Africa's economic growth in the foreseeable future, said I-Net Bridge citing a report by Standard & Poor's (S&P). This was despite the slowdown of the world economy. it said. In its latest report - Can Sub Saharan Africa Keep Up The Pace As Global Growth Slows Down? – S&P says that high commodity prices will be a major factor in making Sub Saharan Africa relatively immune to the effect of the global economic slowdown, said I-Net Bridge. Konrad Reuss, S&P's MD for South Africa and Sub-Saharan Africa, said significant spending for investment and strong demand for its mineral resources will continue to prop up its economic performance, partly offsetting the effects of power shortages. "Fortunately, with the commodity price boom unlikely to go bust in the near future, time is on Africa's side to make further strides towards economic, political and social progress," he said.
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