News & Analysis: Economic impact

The Impact of COVID-19 on Key African Sectors

“Economically, the effects have already been felt – demand for Africa’s raw materials and commodities in China has declined and Africa’s access to industrial components and manufactured goods from the region has been hampered. This is causing further uncertainty in a continent already grappling with widespread geopolitical and economic instability.”

via Baker McKenzie

Africa’s rising “unsustainable” debt is driving a wedge between the World Bank and other lenders

“African debt is on the rise, and that fact is causing tensions to spark in unexpected places. Total external debt for sub-Saharan Africa jumped nearly 150% to $583 billion in 2018 from $236 billion 10 years earlier, according to World Bank data. Many now worry the debt load is becoming unsustainable.”

via Quartz Africa