The World Bank has cut economic growth for South Africa to below one percent for 2020 due to electricity concerns.
In a report released earlier this week, the World Bank said growth in Sub-Saharan Africa remained slow through 2019, hampered by persistent uncertainty in the global economy and the slow pace of domestic reforms.
Trade disputes are taking a toll on the global economy, substantially weakening manufacturing activity and investment and holding back economic potential, Kristalina Georgieva, new chief of the International Monetary Fund (IMF), said on Tuesday.
The Global Preparedness Monitoring Board, co-convened by the World Bank and WHO, warned that epidemic-prone viral diseases like Ebola, flu and SARS are increasingly tough to manage in a world dominated by lengthy conflicts, fragile states and forced migration.
Sudan PM Abdalla Hamdok an economist, who has worked for the UN Economic Commission for Africa, said he had started talks with the IMF and the World Bank to discuss restructuring Sudan’s crippling debt.