Tagged in: UNECA

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COVID-19: UNECA report predicts devastating worst-case scenario

The UN Economic Commission for Africa estimates that in a worst-case scenario COVID-19 could take 3.3m lives across Africa and is calling for a $200bn package to tackle the health and economic crisis on the continent

  1. Reports calls for $200bn package to tackle the twin health and economic crisis
  2. Debt relief should not take the form of debt cancelations but rather interest and repayment standstills and an increase in Special Drawing Rights
  3. Original estimates put deaths at between 300,000 and 3.3m across the continent, depending on interventions taken
  4. African exports are being decimated, from commodities, hard and soft, as well as other sectors such as textiles, tourism
  5. Silver linings from how government and private sector have mobilised resources
In a report published on 17 April, the UN Economic Commission for Africa (UNECA) outlines different scenarios and outcomes as well as the impact the Covid-19 pandemic has had across the continent.

Coronavirus: The economic consequences for Africa

As UNECA slashes its predictions for African GDP growth, Dr Desné Masie assesses the damage the pandemic is likely to cause to Africa’s economies

For the latest news on the coronavirus across Africa visit the African Business liveblog

At the time of writing in mid-March, Africa seems to have so far been spared the worst human impact of the coronavirus pandemic, but was already beginning to suffer the destructive economic impact of a potential global slide to recession.…

Agro-processing is the sector that will provide jobs

Othe sidelines of the African Development Bank’s meetings in Busan, South Korea, in May, African Business caught up with Carlos Lopes, the former executive secretary of the United Nations Economic Commission for Africa to find out his opinions on topics ranging from the South Korean development model to the sector most likely to create jobs in Africa.

Remodelling Africa’s agric sector a must for transformation, says a new report

A new report on how agriculture can power Africa’s economic transformation, has been released at the ongoing Conference of African Ministers of Finance, being held under the auspice of the UN Economic Commission for Africa ( ECA) – and it highlights how change of the status quo can make agriculture a major pillar of Africa’s economic growth.…

Perils of tinkering with role of central banks

Delegates at an African Union (AU) – United Nations Economic Commission for Africa (Uneca) Conference of Ministers held in Addis Ababa in March, 2015, which included governors of African central banks, supported the widely held view that the role of central banks needs to be re-imagined to actualise Africa’s economic transformation and growth potential.