News from 2020-04-21 / KfW Research
Considerations on the economic impact of the coronavirus pandemic on Africa
The coronavirus crisis has hit Africa’s economies particularly hard. Major export markets have collapsed as a result of the global economic crisis. The costs of imports are rising and driving inflation. In order to slow the spread of the virus in Africa, governments have imposed a variety of containment measures. These, too, are further slowing the continent’s economic growth. Africa needs high growth rates because of its dynamic demographic trend.
Considerations on the economic impact of the coronavirus pandemic on Africa
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