News & Analysis: Economic impact

Interview with Gwen K. Young: Gender Impacts of COVID-19 in Sub-Saharan Africa

Gwen K. Young, President of Balance Up Leadership, talks to COVID-19 Africa Watch about COVID-19’s disproportionate impact on women and what governments and others can do to develop response plans that promote women’s economic and social wellbeing.

via COVID-19 Africa Watch

How Has COVID-19 Impacted the Nigerian Capital Markets? An Interview with NSE CEO Oscar N. Onyema

The CEO of The Nigerian Stock Exchange, Oscar N. Onyema, talks to COVID-19 Africa Watch about how the exchange has responded to the COVID-19 pandemic.

via COVID-19 Africa Watch

37% of Kenyans were unable to pay their May rent

“More than a third of Kenyans were not able to pay their rent for the month of May according to a government survey.”

via The Star (Kenya)

Well-coordinated regional plans are crucial to fight the COVID-19 pandemic in Africa

“Regional responses to the pandemic are essential, and although regions acted quickly, results have been mixed.”

via Daily Maverick

World Bank Provides $100 Million to Help Accelerate Digital Transformation in Niger

“The World Bank Board of Directors approved today a $100 million International Development Association which includes $50 million credit and $50 million grant to help Niger implement an ambitious program to use digital infrastructure and services to modernize its economy and strengthen access to basic services.”

via World Bank

Morocco Adopts Amended 2020 Finance Bill in Light of COVID-19

“The legal text insists on the establishment of sectoral conventions to relaunch Morocco’s economy, taking into consideration the specificities of every sector and the impacts of the COVID-19 crisis. The updated finance bill allocates MAD 5 billion ($518 million) to accompany businesses in their relaunch period, including public enterprises.”

via Morocco World News

South Sudan’s central bank cuts benchmark interest rate to 10%

“South Sudan’s central bank said it cut its benchmark interest rate to 10% from 13%, as part of efforts to mitigate the effects of the coronavirus outbreak on the economy. This is the second time the central bank has slashed its rate since April, when it cut by 200 basis points to 13%.”

via Reuters

Riding the COVID-19 economic storm

“The economic fallout for the continent from COVID-19 is likely to be severe and enduring. This burden falls heavily on countries with a high dependence on commodity exports to China, weak sovereign balance sheets, high debt burdens, and volatile currencies, among other external fragilities.”

via African Business Magazine

The role of good governance in fostering pro-poor and inclusive growth

“Despite the positive narrative around the significant decline in extreme poverty around the world, not all the news is good. Still today more than 700 million people live with less than $1.90 a day, more than 72 percent of them in Africa.”

via Brookings Institution

Youth Perspectives: Impact of the COVID-19 pandemic on remittance inflows to Africa

“Until the emergence of COVID-19, total remittance inflows into the continent has been on the rise. For instance, in 2017, remittances reached $38 billion in Africa. In 2019, total remittances to the continent amounted to $48 billion. However, with COVID-19 severely impacting both the source countries of remittances.”

via Mo Ibrahim Foundation