![]() ![]() In this context, rising food price inflation,Ĭombined with reduced incomes, is threatening past gains in poverty Geographic regions, which may add to the risk of social tension and Inequality not only across income groups, but also across subnational Million people thrown into extreme poverty, the crisis has worsened ![]() Particularly harsh impact on the region’s most vulnerable. “Widening gaps between countries have been accompanied by growingĭivergence within countries, as the pandemic has had a Furthermore, differences in fiscal space also help toĮxplain cross-country differences in the current pace of recovery. Windfall gains are often volatile and cannot substitute more enduring Non-resource-intensive countries have a moreĭiverse economic structure, which helps them adjust and recover faster.Ĭommodity price increases have also helped some countries, but these The non-resource-intensive countries are growing atĪ much faster rate than resource-rich countries-a pattern that precedes theĬrisis and has been amplified by recent events, highlighting fundamentalĭifferences in resilience. Precrisis trends, with permanent real output losses ranging between -21 “Real per capita income is expected to remain close to 5½ percent below This mismatch reflects sub-Saharan Africa’s slow vaccine rollout Other emerging markets and developing countries grow by more than 6 Slowest in the world-as advanced markets grow by more than 5 percent, while “At 3.7 percent this year, the recovery in sub-Saharan Africa will be the “In the absence of vaccines, lockdowns and other containment measures haveīeen the only option for containing the virus. Stressed Abebe Aemro Selassie, Director of the IMF’s African Department. Repeated waves of infection, a return to normal will be far from easy,” “As sub-Saharan Africa navigates through a persistent pandemic with Regional Economic Outlook for Sub-Saharan Africa. Remains highly uncertain as the recovery depends on the progress in theįight against COVID-19 and is vulnerable to disruptions in global activityĪnd financial markets, the International Monetary Fund (IMF) said in its Improved harvests have lifted agricultural production. Including a sharp improvement in trade and commodity prices. Most welcome and primarily results from a favorable external environment, Improvement over the extraordinary contraction of 2020. Washington, DC: Sub-Saharan Africa’s economy is set to recover in 2021 – a marked International solidarity and cooperation remain vital, not only on vaccination but also on addressing other critical global issues, such as climate change.Saving lives remains the top priority, but there is also an urgent need for spending prioritization, revenue mobilization, enhanced credibility, and an improved business environment. As the pandemic continues, authorities face an increasingly difficult policy environment, with rising needs, limited resources, and difficult tradeoffs.Moreover, food price inflation threatens to jeopardize previous gains in food security and exacerbate social and political instability. The crisis has highlighted key disparities in resilience between countries in sub-Saharan Africa and has also exacerbated preexisting vulnerabilities and inequality within each country.Sub-Saharan Africa is projected to grow by 3.7 percent in 2021 and 3.8 percent in 2022 – a welcome but relatively modest recovery, suggesting that divergence with the rest of the world will persist over the medium term.Sub-Saharan Africa: One Planet, Two Worlds, Three Stories ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |