World Bank says sub-Saharan Africa destined for first recession in 25 years
Growth could fall as low as -5.1% as largest economies struggle with Covid-19 repercussions
For the first time in a quarter of a century, sub-Saharan Africa could be heading towards a recession, as a result of the economic effects of Covid-19.
The revelation came as part of the World Bank’s latest review of the region, where growth is now expected to fall sharply to -5.1%
“The Covid-19 pandemic is testing the limits of societies and economies across the world, and African countries are likely to be hit particularly hard,” says Hafez Ghanem, World Bank vice-president for Africa.
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