An important by-product of the crisis has been the realisation that the IMF lending capacity should be bolstered, after years of progressive decline in the IMF lending activities. At the 2009 G-20 London summit, it was decided that the IMF would require additional financial resources to meet prospective needs of its member countries during the then ongoing global financial crisis.
For SSA, the highest inflation rate recorded was 46.1 per cent in 1994, induced by agricultural supply shocks and inflation inertia. The inflationary pressure had since reversed as the consumer price inflation declined from an average of 24.4 per cent in the 1990’s to 10.3 per cent in 2000–2009. However, SSA inflation rates had consistently remained above world inflation rate since 1991.