News & Analysis: Economic impact
COVID-19 Africa Watch talks to Megan McDonald of Standard Bank about the ongoing economic impacts of the pandemic, recent market developments, and the priorities for a robust recovery.
“Change can be daunting, but it is far less scary than the alternative. Radical changes in government policy, in business behaviour and in our personal choices over the past 18 months demonstrate that previously unthinkable actions can be undertaken.”
Dr. Patrick Njoroge, Governor of the Central Bank of Kenya, speaks to COVID-19 Africa Watch about Kenya’s economic journey since the onset of the pandemic, the role government has played in mitigating the worst impacts on households and businesses, and the reasons for optimism when it comes to the path ahead.
“Ratings action from Fitch on Egypt’s Commercial International Bank (CIB) shows that the country’s banking sector is poised for recovery, analysts say.”
“It is easy to be pessimistic about the impact of COVID-19 on African agribusiness but some players in the food supply chain have enjoyed great success over the past year.”
“In some countries, lockdowns can produce net increases in mortality. The optimal lockdowns are shorter and milder in poorer countries than in rich ones and never produce a net mortality increase.”
“A study commissioned by the International Chamber of Commerce Research Foundation has found that the global economy stands to lose as much as US$9.2 trillion if governments fail to ensure developing economy access to COVID-19 vaccines.”
“The Nigerian government has responded notably to address the pandemic’s impact on the economy. So far, $ 1.4 billion in additional spending has been executed, which is estimated at 0.3% of GDP. This paper examines the macroeconomic landscape and policy interventions in Nigeria with the objective of developing lessons not only for Nigeria but for other developing economies.”
“Second lockdown is poised to throw the economy, especially small-scale further into uncertainty.”
“Egypt was one of the few emerging market countries that experienced a positive growth rate in 2020. As a result of the government’s swift and prudent policy response, coupled with IMF support, the Egyptian economy showed resilience in the face of the pandemic.”
A hub for information, analysis, and the global response to COVID-19’s impact on Africa