World Bank Warns on Sub-Saharan Africa Recession

The World Bank is projecting that sub-Saharan Africa will go into recession for the first time in a quarter a century as the Covid-19 pandemic disrupts economies.

The global financial institution says the region’s economy could contract by -2.1% to as much as -5.1% this year.

The outbreak has spread to 52 countries on the continent that have cumulatively reported 10,250 confirmed cases and 492 deaths.

The World Bank and the International Monetary Fund are calling for a ‘debt standstill’ from creditors to free up money to go into saving lives and protecting livelihoods.

Africa was among the last to be hit by Covid-19, and the response from most countries was swift and hard – border closures, lockdowns and the quarantine of travellers.