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Coronavirus | Pandemic may cause Africa’s 1st recession in 25 years: World Bank

Africa might see its first recession in the region in 25 years

Africa might see its first recession in the region in 25 years   | Photo Credit: REUTERS

‘The economic growth in Sub-Saharan Africa will decline from 2.4% in 2019 to -2.1 to -5.1% in 2020’

The World Bank on Thursday warned sub-Saharan Africa could slip into its first recession in a quarter of century because of the coronavirus pandemic.

Also read: World Bank increases coronavirus response fund to $14 Billion

“We project that economic growth in Sub-Saharan Africa will decline from 2.4% in 2019 to -2.1 to -5.1% in 2020, the first recession in the region in 25 years,” the Bank said in an assessment.

Also read: World Bank, IMF to hold ‘virtual’ Spring Meetings

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Printable version | May 30, 2020 8:28:26 AM | https://www.thehindu.com/news/international/coronavirus-pandemic-may-cause-africas-1st-recession-in-25-years-world-bank/article31299804.ece

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