The AFD’s 2019 Africa Economic Outlook shows Africa’s gross government debt-to-GDP ratio reached 53% in 2017.

Africa’s sustainable economic and social transformation is a global priority. The COVID-19 pandemic is a global health crisis without precedent in living memory. U.S. GDP growth will contract by 6.5% in 2020. Exporters of energy or industrial commodities will be particularly hard hit. That's according to the most recent forecast released at the Federal Open Market Committee meeting on June 10, 2020.

In the face of this disquieting outlook, the immediate priority for policymakers is to address the health crisis and contain the short-term economic damage. High growth momentum since 2017 has consistently placed Ghana among Africa’s 10 fastest-growing economies. Co-operation and Development Drought to drag down Kenya’s 2019 economic growth, World Bank says, Reuters, 9 April 2019. Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). This scenario would envision global growth reviving, albeit modestly, to 4.2% in 2021.Looking at the speed with which the crisis has overtaken the global economy may provide a clue to how deep the recession will be. View in article

The forecast assumes that the pandemic recedes in such a way that domestic mitigation measures can be lifted by mid-year in advanced economies and later in developing countries, that adverse global spillovers ease during the second half of 2020, and that widespread financial crises are avoided. It will rebound to a 5% growth rate in 2021 and 3.5% in 2022. Sub-Saharan Africa Economic News. Even this bleak outlook is subject to great uncertainty and significant downside risks. The low-paid, low-skilled and the young have been particularly badly hit - by their exposure to the virus and by job losses.As restrictions begin to be eased, the path to economic recovery remains highly uncertain and vulnerable to a second wave of infections.
  However, even after demand recovers, adverse impacts on energy exporters may outweigh any benefits to activity in energy importers. We provide a wide array of financial products and technical assistance, and we help countries share and apply innovative knowledge and solutions to the challenges they face.We face big challenges to help the world’s poorest people and ensure that everyone sees benefits from economic growth.
Global economic activity falls 6% in 2020 and unemployment climbs to 9.4 % from 5.4 % last year. With 189 member countries, staff from more than 170 countries, and offices in over 130 locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries. Sub-Saharan Africa regional economic outlook: Navigating uncertainty, International Monetary Fund, October 2019. JOHANNESBURG-South Africa's central bank on Thursday cut its main repo rate by 0.25 percentage point to a record low of 3.5% and said it expects the economy … The June 2020 Global Economic Prospects describes both the immediate and near-term outlook for the impact of the pandemic and the long-term damage it has dealt to prospects for growth. Labour market conditions are projected to deteriorate August 11, 2020. Low oil prices are likely to provide, at best, temporary initial support to growth once restrictions to economic activity are lifted.



East Asia and the Pacific will grow by a scant 0.5%. “We had two subsequent negative economic growth quarters last year, with economic expansion around 0.2 % for the full year of 2019. Macroeconomic performance and outlook Ghana’s economy continued to expand in 2019, with real GDP growth estimated at 7.1%. The sharp pace of global growth forecast downgrades points to the possibility of yet further downward revisions and the need for additional action by policymakers in coming months to support economic activity.A particularly concerning aspect of the outlook is the humanitarian and economic toll the global recession will take on economies with extensive informal sectors that make up an estimated one-third of the GDP and about 70% of total employment in emerging market and developing economies. With or without a second outbreak, the consequences will be severe and long-lasting. Above the highway, a sign reads "Stay Safe, Stay Home." These downturns are expected to reverse years of progress toward development goals and tip tens of millions of people back into extreme poverty.Emerging market and developing economies will be buffeted by economic headwinds from multiple quarters: pressure on weak health care systems, loss of trade and tourism, dwindling remittances, subdued capital flows, and tight financial conditions amid mounting debt. View in article. Africa’s debt is rising. © 2019 World Economic Outlook Update, June 2020: A Crisis Like No Other, An Uncertain Recovery June 24, 2020 Description: Global growth is projected at –4.9 percent in 2020, 1.9 percentage points below the April 2020 World Economic Outlook (WEO) forecast. We support the implementation of the African Union’s strategic vision at continental, regional, national and local levels by co-producing cutting-edge data and analysis with our African member states and partners, and facilitating an open dialogue on policies to accelerate that transformation.