West African Economy could contract by as much as 4.3% amid raging COVID19 pandemic- AFDB says

AfDB’s African Economic Outlook

WEST AFRICA – The African Development Bank has released its updated economic outlook for the West African region noting with concern that the effects of the COVID-19 pandemic may push the region’s economy to contract by as much as 4.3% in 2020. The Bank which released its regional economic outlook report in Abuja Nigeria explained that the West Africa region, which was poised to expand by 4.0 percent in 2020 is now projected to contract by -2.0 percent in 2020. African Development Bank in its economic outlook report further noted…

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Youths in West Africa hold the key to economic success post-COVID-19 era – AFDB

WEST AFRICA— The African Development Bank in its 2020 regional economic outlook for West Africa has noted that the region’s youth hold the Key to economic success post-COVID-19 era. AfDB noted that West Africa’s burgeoning youth population offers a strategic workforce which can be harnessed for employment and economic growth, despite a COVID-19 pandemic that is devastating the continent and global economies. Speaking during the reports virtual launch in Abuja Nigeria, AfDB’s Director General, Regional Development and Business Delivery Office for West Africa, Marie-Laure Akin-Olugbade, said that the region’s young…

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AfDB’s African Economic Outlook projects Africa’s growth may rebound to 3% in 2021

AfDB’s African Economic Outlook

AFRICA – The African Economic Outlook, an African Development Bank publication, has projected that Africa’s economic growth may rebound to 3% in 2021 from a -3.4% in the worst-case scenario for 2020. The African Economic Outlook supplement however, cautioned that the growth outlook for 2021 and beyond would depend largely on African governments’ effectiveness in flattening the curve of the outbreak and policies to reopen economies. The supplement noted that the curve of the pandemic in Africa was flattening gradually. However, COVID-19 remains a serious threat to lives and livelihoods,…

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