Armed conflicts are also weighing on growth, the IMF said, citing South Sudan's oil exports blocked by conflict in neighbouring Sudan.

Credit ratings were meant to help sub-Saharan countries tap global investors to fund much-needed development.

Push for increased revenue mobilisation has taken a hit on Kenya, resulting in the anti-tax protests.

While economic recovery is expected to gain momentum going forward, the IMF noted that it faced headwinds from an "unfavourable global economic enviro...

Kenya managed to sell a new $1.5 billion Eurobond in February from international markets, albeit at a steep price, and partly paid the loan.

As Africa pursues economic growth, key issues include borrowing to finance key projects, as loans and other plans have left many countries struggling...