African leaders, the IMF and the World Bank on Friday appealed for rapid international action to help African countries respond to the coronavirus pandemic that will cause the continent’s economy to shrink by 1.25% in 2020, the worst reading on record.
International Monetary Fund chief Kristalina Georgieva urged governments and the private sector to step up their efforts to help African countries and other emerging markets weather the economic and health impacts of the coronavirus pandemic.
South Africa’s Absa bank published its policy on coal financing on Thursday, joining other lenders in the opting not to rule out funding for new coal projects altogether.
The rapidly-spreading coronavirus outbreak is expected to push sub-Saharan Africa into recession in 2020 for the first time in 25 years, the World Bank said in a new forecast on Thursday.
In a dark ground-floor room in Lagos, dressmaker Kemi Adepoju gazes at a pile of dresses she has made but which cannot be collected due to the lockdown in force to slow the spread of the new coronavirus.