Sub-Saharan Africa faces R1.4-trillion output loss and food crisis due to Covid-19, says World Bank
Real GDP growth projected to fall sharply, particularly in the region’s three largest economies — Nigeria, Angola and SA
Sub-Saharan Africa’s economies could lose as much as $79bn (about R1.4-trillion) in output in 2020 due to the coronavirus epidemic, a World Bank report said. This could lead to a severe food security crisis, with agricultural production expected to contract between 2.6% and 7%.
The pandemic continues to wreak havoc across the globe, bringing most economies to a complete standstill as governments enact stringent measures to limit the movement of people to curb the spread of the highly contagious and potentially deadly disease. Economists predict the disease will cause a global recession worse than that of the global financial crisis of 2008/2009...