“Anywhere between 300,000 and 3.3 million African people could lose their lives as a direct result of COVID-19… The impact on African economies could be the slowing of growth to 1.8 percent in the best-case scenario or a contraction of 2.6 percent… This has the potential to push 27 million people into extreme poverty.”
“The impact on African economies could be the slowing of growth to 1.8 per cent in the best case scenario or a contraction of 2.6 per cent in the worst case. This has the potential to push 27 million people into extreme poverty.”
“The Ministers emphasized the heavy toll that the global economic slowdown will have on the African economy, with urgent need for fiscal stimulus to contain the crisis… They therefore called for the urgent and immediate release of the US$ 100 billion of which US$ 44 billion will go towards debt relief for all African countries.”
“Initial ECA estimates suggest Africa will face an immediate decline in GDP growth from 3.2% to 1.8% in 2020 as a result of COVID-19, but with a further adverse impact if COVID-19 is not contained in the short-term. Trade is a significant conduit for this negative impact through three transmission channels.”
