Weighted by the economic downturn from the Covid-19 pandemic, growth in sub-Saharan Africa is expected to fall to -3.3% by 2020, dragging the region into its first economic recession in 25 years, according to the latest regional economic analysis ”, Produced by the World Bank. The pandemic also risks pushing 40 million Africans into extreme poverty and erasing at least five years of progress in the fight against poverty.
It is a relaxing figure: 40 million Africans are at risk of falling into extreme poverty, about three times the population of Senegal. Extreme poverty means living on less than $ 1.9 a day or 1,000 CFA francs.
This year, the pandemic will have set the continent back five years in terms of poverty reduction. The World Bank, which analyzes the phenomenon, also notes that many African countries have taken zebu by the horns.
In sub-Saharan Africa, 46 of them have adopted social protection measures aimed at strengthening household purchasing power: tax breaks, access to care programs, moratoriums on electricity bills or even distribution of food for the poorest.
Albert Zeufack, economist at the World Bank, notes the efforts of African states for the social
Although the global crisis has highlighted the lack of diversification of economies, African countries are also embarking on modernization and job creation programs. But the World Bank warns, all this at an economic price, and it will be more than urgent to help African countries find the funds.
The World Bank encourages private creditors to join the movement todebt relief triggered by the seven richest countries. She also asks Europe to help her advocate for this with powers like India and China.
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