The African Development Bank has projected that about 39 million Africans could be pushed into extreme poverty in 2021 as a result of the coronavirus pandemic.
This was contained in the bank’s 2021 edition of the African Economic Outlook which focuses on debt resolution, governance, and growth in Africa.
A copy of the report obtained by our correspondent on Saturday cautioned that Africa’s predicted growth could be subject to major downside risks arising from both external and domestic factors.
Part of the report read, “Despite the challenging backdrop of a global pandemic and external economic shocks, Africa is expected to recover from its worst recession in half a century and reach 3.4 percent growth in 2021.
“The outbreak of the novel coronavirus in December 2019 has taken a massive toll on Africa, hitting tourism-dependent economies, oil-exporting economies and other-resource intensive economies the hardest, as well as deepening inequality.
The African Development Bank has projected that about 39 million Africans could be pushed into extreme poverty in 2021 as a result of the coronavirus pandemic.
This was contained in the bank’s 2021 edition of the African Economic Outlook which focuses on debt resolution, governance, and growth in Africa.
A copy of the report obtained by our correspondent on Saturday cautioned that Africa’s predicted growth could be subject to major downside risks arising from both external and domestic factors.
Part of the report read, “Despite the challenging backdrop of a global pandemic and external economic shocks, Africa is expected to recover from its worst recession in half a century and reach 3.4 percent growth in 2021.
“The outbreak of the novel coronavirus in December 2019 has taken a massive toll on Africa, hitting tourism-dependent economies, oil-exporting economies and other-resource intensive economies the hardest, as well as deepening inequality.
THE PUNCH
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