The International Monetary Fund (IMF) has released its Economic Outlook for Sub-Saharan Africa. The health crisis has precipitated an economic crisis reflecting three large shocks: disruption of production and a sharp reduction in demand; spillovers from a sharp deterioration in global growth and tighter financial conditions; and a severe decline in commodity prices. As a result, the region’s economy is projected to contract by 1.6 percent this year—the worst-reading on record. Some economies such as this highly dependent on tourism are expected to shrink further.
Link to publication: https://www.imf.org/en/Publications/REO/SSA/Issues/2020/04/01/sreo0420