Investment in infrastructure and natural resources will continue to underpin economic activity in sub-Saharan Africa, although capital outflows sparked by tighter global financial conditions pose a risk to growth, the IMF said on Thursday. "The main downside risk to this generally positive baseline scenario is the risk that growth in emerging markets might slow much more abruptly than currently envisaged," the International Monetary Fund said in its latest Regional Economic Outlook. "As advanced economies tighten their monetary policies, frontier market economies will also face higher funding costs and a heightened risk of reversal of capital flows," it said. The IMF forecasts economic growth of 5.5 percent for sub-Saharan Africa this year, up from 4.9 percent last year.
ANSAN, South Korea (AP) — Students in the city hit hardest by the South Korean ferry disaster returned to classes Thursday, their school campus a tragic landscape of yellow ribbons, chrysanthemums and photos of classmates and teachers who make up the vast majority of the more than 300 people feared dead.