Monday, February 24, 2020

Coronavirus May Have Major Impact on African Economies

Bloomberg Business published on 23 February 2020 an article titled "Even without a Case, Africa May Be a Big Victim of Coronavirus" by Alonso Soto.

Sub-Saharan Africa may be the region hardest hit outside Asia by the spread of the coronavirus. The Overseas Development Institute projects that a slowdown in China's economy and a 5 percent drop in oil prices over one year could mean $4 billion in lost export revenue for Sub-Saharan Africa. Nigeria, Angola, DRC and Zambia are most at risk because of falling commodity prices. Still, Africa could bounce back quickly once the coronavirus outbreak is brought under control.