[PDF] Accessing The Economic Impact Of Covid 19 And Policy Reponses In Sub Saharan Africa eBook

Author : Cesar Calderon
Publisher : World Bank Publications
Page : 136 pages
File Size : 37,80 MB
Release : 2020-04-07
Category : Business & Economics
ISBN : 1464815682

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The COVID-19 pandemic has taken a toll on human life and brought major disruption to economic activity across the world. Despite a late arrival, the COVID-19 virus has spread rapidly across Sub-Saharan Africa in recent weeks. Economic growth in Sub-Saharan Africa is projected to decline from 2.4 percent in 2019 to -2.1 to -5.1 percent in 2020, the first recession in the region in 25 years. The coronavirus is hitting the region’s three largest economies —Nigeria, South Africa, and Angola— in a context of persistently weak growth and investment. In particular, countries that depend on oil and mining exports would be hit the hardest. The negative impact of the COVID-19 crisis on household welfare would be equally dramatic. African policymakers need to develop a two-pronged strategy of “saving lives and protecting livelihoods.†? This strategy includes relief measures and recovery measures aimed at strengthening health systems, providing income support to workers and liquidity support to viable businesses. However, financing of these policies will be challenging amid deteriorating fiscal positions and heightened public debt vulnerabilities. Therefore, African countries will require financial assistance from their development partners -including COVID-19 related multilateral assistance and a debt service stand still with creditors.

Author : Brandon Buell
Publisher : International Monetary Fund
Page : 61 pages
File Size : 42,5 MB
Release : 2021-05
Category : Business & Economics
ISBN : 1513582496

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The COVID-19 pandemic underscores the critical need for detailed, timely information on its evolving economic impacts, particularly for Sub-Saharan Africa (SSA) where data availability and lack of generalizable nowcasting methodologies limit efforts for coordinated policy responses. This paper presents a suite of high frequency and granular country-level indicator tools that can be used to nowcast GDP and track changes in economic activity for countries in SSA. We make two main contributions: (1) demonstration of the predictive power of alternative data variables such as Google search trends and mobile payments, and (2) implementation of two types of modelling methodologies, machine learning and parametric factor models, that have flexibility to incorporate mixed-frequency data variables. We present nowcast results for 2019Q4 and 2020Q1 GDP for Kenya, Nigeria, South Africa, Uganda, and Ghana, and argue that our factor model methodology can be generalized to nowcast and forecast GDP for other SSA countries with limited data availability and shorter timeframes.

Author : Salewa Olawoye
Publisher : Edward Elgar Publishing
Page : 175 pages
File Size : 46,71 MB
Release : 2023-01-20
Category : Business & Economics
ISBN : 1802205373

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COVID-19 and the Response of Central Banks analyses the reactions of central banks to the COVID-19 crisis in Sub-Saharan Africa. It focuses on how the pandemic has affected the economic performance of Sub-Saharan African countries, many of which were already struggling with growth and sustainability. The first part of the book covers countries within monetary unions such as Cameroon, Congo, Senegal, and Cote d'Ivoire. In the second half, countries with their own independent central banks, The Democratic Republic of Congo, Nigeria, Ghana, and Sierra Leone, are discussed. Chapters highlights the differences between Monetary Union membership and independent Central Banks in policymaking during health crises and explore the role of central banking in minimizing the deleterious effects.

Author : Amewu, Sena
Publisher : Intl Food Policy Res Inst
Page : 24 pages
File Size : 19,58 MB
Release : 2020-06-12
Category : Political Science
ISBN :

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The objective in this paper is to estimate the economic costs of COVID-19 policies and external shocks in a developing country context, with a focus on agri-food system impacts. Ghana is selected as a case study. Ghana recorded its first two cases of COVID-19 infection on 12 March 2020. The government responded by gradually introducing social distancing measures, travel restrictions, border closures, and eventually a partial, two-week “partial” lockdown in the country’s largest metropolitan areas of Accra and Kumasi. Social distancing measures have been enforced nationwide and include bans on conferences, workshops, and sporting and religious events, as well as the closure of bars and nightclubs. All educational institutions are also closed. The partial lockdown measures in urban areas directed all residents to remain home except for essential business, prohibited non-essential inter-city travel and transport, and only essential manufacturing and services operations were permitted to continue (The Presidency 2020). At the time the lockdown was announced, Ghana’s Ministry of Finance revised its GDP growth estimate for 2020 downwards from 6.8 to 1.5 percent (MoF 2020), although the Minister warned that growth could fall further if lockdown measures were extended. The lockdown was initially extended for a third week but was officially lifted on 20 April. Social distancing measures remain in place nationwide, although a gradual easing of restrictions commenced in June. Ghana’s borders remain closed at the time of writing.

Author : Susan Arndt
Publisher : Springer Nature
Page : 330 pages
File Size : 10,22 MB
Release : 2023-12-16
Category : History
ISBN : 3031403169

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Written amidst the ongoing Covid-19 pandemic, this edited volume draws on the expertise of social scientists and humanities scholars to understand the many ramifications of Covid-19 on societies, politics, and the economies of Africa. The contributors examine measures, communicative practices, and experiences that have guided the (inter)action of governments, societies, and citizens in this unpredictable moment. Covid-19 tested governments’ disaster preparedness as well as exposed governments’ attitudes towards the poor and vulnerable. In the same vein, it also tested the agency of the African populace in the face of containment measures and their impact on everyday social, cultural, and economic practices of ordinary people. In this vein, our concern is to understand the relationship between growing vulnerability on the one hand, and ingenuity of agency on the other, and how both were embodied, narrated and discoursed by the African poor, university students, religious entities, middle-classes, and those who bore the major brunt of the lockdowns. The volume is thus a useful resource for scholars of Africa, policy makers and those who want to understand Covid-19 in Africa. It provides a multiplicity of perspectives of the pandemic and African responses at different levels of society, economy and the political spectrum. The continental focus of this volume gives room for broader comparative analyses. Lastly, this interdisciplinary work benefits from the input of medical historians, anthropologists, sociologists, linguists, political scientists, literature scholars, urban planners, geographers and others.

Author : Alexis Arieff
Publisher : DIANE Publishing
Page : 34 pages
File Size : 43,13 MB
Release : 2010-08
Category : History
ISBN : 1437932789

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Sub-Saharan Africa has been strongly affected by the global recession, despite initial optimism that the global financial system would have few spillover effects on the continent. Contents of this report: (1) Recent Develop.; (2) Congressional Interest; (3) African Economies; Trends Prior to the Crisis; Develop. Challenges; (4) How the Crisis is Affecting Africa: Internat. Trade: Trade with the U.S., and with China; Capital Flows: Migrant Remittances; Foreign Aid; (5) Implications of the Crisis in Africa; Sub-Regional Variations; Fiscal and Trade Balances; Poverty Reduction; Food Security; Political Stability; (6) Internat. Efforts to Address the Impact of the Crisis on Africa; Developed Countries; Internat. Financial Inst.; World Bank; ADB; IMF; African Gov¿ts.

Author : Carmody, Pádraig
Publisher : Policy Press
Page : 199 pages
File Size : 44,13 MB
Release : 2020-10-21
Category : Social Science
ISBN : 1529215889

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Available Open Access under CC-BY-NC-ND licence. Bringing together a range of experts across various sectors, this important volume explores some of the key issues that have arisen in the Global South with the COVID-19 pandemic. Situating the worldwide health crisis within broader processes of globalisation, the book investigates implications for development and gender, as well as the effects on migration, climate change and economic inequality. Contributors consider how widespread and long-lasting responses to the pandemic should be, while paying particular attention to the accentuated risks faced by vulnerable populations. Providing answers that will be essential to development practitioners and policy makers, the book offers vital insights into how the impact of COVID-19 can be mitigated in some of the most challenging socio-economic contexts worldwide.