Boko Haram Is About To Cost Chad 1% Drop In GDP

Chad’s GDP will contract by 1 percent this year from 5 percent growth in 2014 due to plunging crude prices and the negative impact of neighbouring Nigeria’s Boko Haram Islamist insurgency, the International Monetary Fund (IMF) said on Friday.

Annual average inflation reached 4 percent at the end of August, the IMF said in a statement at the end of a review mission to the Central African nation.

“Chad’s overall macroeconomic performance continues to be significantly impacted by the deep decline in oil prices and the deterioration of the security situation,” said IMF’s Mauricio Villafuerte, who led the mission