23 C
Accra
Thursday, August 6, 2020
No menu items!

Economic Activity for Sub-Saharan Africa to contract by 3.2% – IMF

Must Read

Director of Animal Research Institute behaves insolently to Lands Minister following queries over encroached lands

The Minister of Lands and Natural Resources, Kwaku Asomah Cheremeh, is to launch investigation into how State lands belonging...

Ote Waterfalls treetop walkway nears completion

The construction of a canopy walkway over the Ote Waterfalls at Amedzope in the Ho West District of the...

Students vandalise school property in protest against social distancing in exam hall

Students of Ndewura Jakpa Senior High Technical at Damongo in the West Gonja Municipality have vandalised school property in...

In its latest release from International Monetary Fund on Economic Outlook for Sub-Saharan Africa, June 2020 Update, it states Economic activity this year is now projected to contract by some 3.2 percent, reflecting a weaker external environment and measures to contain the COVID-19 outbreak.

The report says Growth is projected to recover to 3.4 percent in 2021 subject to the continued gradual easing of restrictions that has started in recent weeks and, importantly, if the region avoids the same epidemic dynamics that have played out elsewhere.

Africa’s authorities have acted swiftly to support the economy, but these efforts have been constrained by falling revenues and limited fiscal space, the Report stated.

It urged that Regional policies should remain focused on safeguarding public health, supporting people and businesses hardest hit by the crisis, and facilitating the recovery.

The region cannot tackle these challenges alone, and a coordinated effort by all development partners will be key.

Click On The Link For The Full Report

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

Director of Animal Research Institute behaves insolently to Lands Minister following queries over encroached lands

The Minister of Lands and Natural Resources, Kwaku Asomah Cheremeh, is to launch investigation into how State lands belonging...

Ote Waterfalls treetop walkway nears completion

The construction of a canopy walkway over the Ote Waterfalls at Amedzope in the Ho West District of the Volta Region is near completion. The...

Students vandalise school property in protest against social distancing in exam hall

Students of Ndewura Jakpa Senior High Technical at Damongo in the West Gonja Municipality have vandalised school property in protest against the 1.5 meter...

Assembly Member donates to Lawui and Logote communities

The Assembly Member for Wute Electoral Area in the Akatsi South District, Mr. Wisdom Akpablie, has donated sewing machines and sets of computers to...

WAEC investigates alleged exam malpractices in WASSCE

The West Africa Examination Council, WAEC it has begun investigations into alleged Examination malpractices in some Senior High Schools in the ongoing WASSCE. The Council...

More Articles Like This