Remark by Abebe Aemro Selassie at the IEA Africa Ministerial Roundtable on COVID-19 Impact on Africa’s Energy Sector

“The economic toll, both through lockdowns and external shocks, will have a staggering effect on African economies. Our forecast of average African real GDP growth in 2020 was revised down from 3.8 percent in October 2019 to -2.8 percent currently. For African oil exporters (8 SSA oil exporters, Algeria and Libya), it was a revision from 2.5 percent to -5.2 percent.”