The IMF has estimated that sub-Sahara Africa’s GDP will decline by 1.6% due to the impacts of COVID-19. In the meantime, the African Continental Free Trade Agreement has now been postponed to sometime next year, as countries do their best to deal with the fall out of the virus and the mitigation thereof.
The IMF has said that African countries that were previously on the backfoot economically and fiscally, will be affected even harder. Very few countries are expected to have the fiscal room needed to magically repair the economic damage that will be felt. Beyond the immediate economic difficulties, one expert is advocating that African countries will need to work together in order to properly recover.
We are joined via Skype by Yamkela Makupula, she’s CEO of Diaz Reus Africa. For more news, visit sabcnews.com and also #SABCNews, #Coronavirus, #COVID19 on Social Media.