COVID-19: Africa Will Be Hit Very Hard this Year, Says World Bank
The current coronavirus ravaging the world will mean a lot of economic recession for Sub-Saharan Africa this year, the World Bank has predicted.
The world apex bank in a forecast released Thursday said such economic recession will be the first in 15 years.
The World Bank Vice President for Africa, Hafez Ghanem, was quoted to have described COVID-19 as testing the limits of societies and economies around the world and African countries as well.
According to Ghanem, Africa will be hit very hard during this year.
He said that what the bank is doing is to assist countries meet people’s immediate health and survival needs as well as safeguard livelihoods and jobs in the longer term.
Part of the measures, he was also to for a “standstill on official bilateral debt service payments, which would free up funds for strengthening health systems to deal with COVID 19 and save lives”.
According to the bank, the priorities for policy makers should be to save lives through protection of health systems and embarking on actions to ensure that food supplies are sustained.
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