World Bank report, Africa's Pulse: The Economic Impact of COVID-19 in Africa

The World Bank will release its bi-annual report Africa’s Pulse: The Economic Impact of COVID-19 in Africa. This will be the World Bank’s first report on the economic impact of COVID-19 on the Africa region. In pre-briefing notes, the World Bank indicates that it expects economies in Sub-Saharan Africa to contract by as much as 5.1%. This follows an average growth of 2.4% in 2019 in the region. The bank says due to deteriorating fiscal position and increased public debt, among some countries, governments have very little wiggle room to deploy the fiscal policy to address the impacts of the COVID-19 pandemic. Bodies like the World Bank have already requested developed nations to assist regions like Sub-Saharan Africa with debt relief, among other measures.

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