The GDPs of the continent’s economic superpowers, Nigeria and SA, are expected to shrink by 3.4% and 5.8%, respectively
Sub-Saharan African economies are projected to contract by 1.6% in 2020 due to blanket lockdowns, curfews and closures imposed by governments to brake the coronavirus juggernaut, the International Monetary Fund said on Tuesday.
“Among emerging market and developing economies, all countries face a health crisis ... which will have a severe impact on economic activity in commodity exporters,” said the report. “Even in countries not experiencing widespread detected outbreaks ... the significant downward revision to the 2020 growth projection reflects large anticipated domestic disruptions to economic activity from Covid-19,” the IMF said.
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