IMF sees Niger's economy speeding up to 6.5 percent growth this year

NIAMEY: Niger's economy is on track to expand by 6.5 percent this year with increased oil and uranium production likely to sustain high levels of growth in the medium term, the International Monetary Fund said late on Sunday.

The West African nation recorded GDP growth of 4.1 percent in 2013, falling short of initial projections after poor harvests offset higher crude oil output.

"In the short term, the principal risk is a new deterioration in the regional security situation which could have a heavy impact on foreign direct investment," the Fund said in a statement.

With long, porous borders with Libya, Algeria, Nigeria and Mali, Niger has been vulnerable to the growing regional threat posed by Islamist militant groups, some with links to al Qaeda.

Islamist suicide bombers last year struck a Niger army barracks and a uranium mine run by French energy group Areva , leading the government to increase defence spending in 2014.