Sub-Saharan Africa To Experience A Post Coronavirus Recession, Says World Bank Report
For the first time in 25 years, sub-Saharan Africa will slide into recession in 2020 due to the ongoing new coronavirus pandemic, says a World Bank report.
According to the report published on April 9, 2020, the economy of Africa south of the Sahara will experience up to 5.1% post coronavirus shrinkage in 2020. The report continues that due to the new coronavirus pandemic, the region will incur output losses amounting about $79 billion in 2020, and will require about $100 billion economic stimulus in order to recover from the economic impacts of the pandemic.
In the whole of Africa, there are 23 499 confirmed cases of new coronavirus infections medically known as Covid-19, with 1163 reported deaths from the disease as of April 20, 2020. Worldwide, confirmed new coronavirus cases as of April 21, 2020, stand at staggering 2 489 956, while reported deaths are 170 552.
Despite having relatively few confirmed Covid-19 cases and deaths compared to the rest of the world and particularly Western Europe that is currently the epicenter of the pandemic, many African countries have adopted strict lockdown measures aimed at curbing the spread of the new coronavirus. Measures adopted include: police enforced stay at home orders, physical distancing also referred to as social distancing in many quarters, prohibition of non-essential outing and gathering, closure of businesses except a few that offer essential services and products, closure of schools and institutions of higher learning, and closure of national borders, among others.
(Updated: April 21, 2020)
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