According to the Economic Commission for Africa (ECA), in a new report on the coronavirus pandemic, says over 300,000 Africans could lose their lives as a direct result of COVID-19, depending on the intervention measures taken to stop the spread. With the continuous spread of this virus globally, Governments and institutions around Africa are invigorating themselves for the impact of COVID -19 Pandemic on their economies.
The impact of the pandemics and the containment measures applied to slow down the spread of the virus will unavoidably affect levels of economic activity even when the pandemic is suppressed.
The slowdown in economic activity brough about by the continuous spread of Covid-19 has already been felt in Africa, where restrictions to the movement of people and goods are having a strong impact on economic growth.
In order to cushion the effect of the crisis on households and economic activity, governments, and institutions are designing a wide range of policy responses, including direct income-support, and deferred interest payments on debt.
Read the full article via Business Review Afrika here.