‘Complete collapse of economies’ ahead as Africa battles virus

&Tab;&Tab;<div class&equals;"wpcnt">&NewLine;&Tab;&Tab;&Tab;<div class&equals;"wpa">&NewLine;&Tab;&Tab;&Tab;&Tab;<span class&equals;"wpa-about">Advertisements<&sol;span>&NewLine;&Tab;&Tab;&Tab;&Tab;<div class&equals;"u top&lowbar;amp">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;<amp-ad width&equals;"300" height&equals;"265"&NewLine;&Tab;&Tab; type&equals;"pubmine"&NewLine;&Tab;&Tab; data-siteid&equals;"111265417"&NewLine;&Tab;&Tab; data-section&equals;"1">&NewLine;&Tab;&Tab;<&sol;amp-ad>&NewLine;&Tab;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;<&sol;div><p>Countries across Africa face a &OpenCurlyDoubleQuote;complete collapse of economies and livelihoods” unless the spread of coronavirus can be controlled&comma; a UN official has warned&period;<&sol;p>&NewLine;<p>More than half of Africa’s 54 countries have imposed lockdowns&comma; curfews&comma; travel bans or other measures in a bid to prevent local transmission of the virus&period;<&sol;p>&NewLine;<p>They range from South Africa&comma; where inequality and crime plague Africa’s most developed country&comma; to places like Uganda&comma; where the informal sector accounts for more than 50&percnt; of the country’s gross domestic product&period;<&sol;p>&NewLine;<p>The UN’s development programme regional director for Africa&comma; Ahunna Eziakonwa&comma; said&colon; <em>&OpenCurlyDoubleQuote;We’ve been through a lot on the continent&period;<&sol;em><&sol;p>&NewLine;<p><em>&OpenCurlyDoubleQuote;Ebola&comma; yes&comma; African governments took a hit&comma; but we have not seen anything like this before&period;<&sol;em><&sol;p>&NewLine;<p><em>&OpenCurlyDoubleQuote;The African labour market is driven by imports and exports and with the lockdown everywhere in the world&comma; it means basically that the economy is frozen in place&period;<&sol;em><&sol;p>&NewLine;<p><em>&OpenCurlyDoubleQuote;And with that&comma; of course&comma; all the jobs are gone&period;”<&sol;em><&sol;p>&NewLine;<blockquote class&equals;"twitter-tweet" data-width&equals;"550" data-dnt&equals;"true">&NewLine;<p lang&equals;"en" dir&equals;"ltr"><a href&equals;"https&colon;&sol;&sol;twitter&period;com&sol;hashtag&sol;COVID19&quest;src&equals;hash&amp&semi;ref&lowbar;src&equals;twsrc&percnt;5Etfw">&num;COVID19<&sol;a> priorities outlined by <a href&equals;"https&colon;&sol;&sol;twitter&period;com&sol;UNDP&quest;ref&lowbar;src&equals;twsrc&percnt;5Etfw">&commat;UNDP<&sol;a> to respond to the pandemic &amp&semi; minimize long-term impact<&sol;p>&NewLine;<p>Short-term&comma; priorities include&colon;<&sol;p>&NewLine;<p>1⃣procuring needed medical supplies<br &sol;>2⃣leveraging digital technologies<br &sol;>3⃣ensuring health workers are paid<&sol;p>&NewLine;<p>Read more&colon;<a href&equals;"https&colon;&sol;&sol;t&period;co&sol;CVgw1FbZjd">https&colon;&sol;&sol;t&period;co&sol;CVgw1FbZjd<&sol;a> <a href&equals;"https&colon;&sol;&sol;t&period;co&sol;Eu8Y07Rk5T">pic&period;twitter&period;com&sol;Eu8Y07Rk5T<&sol;a><&sol;p>&NewLine;<p>&mdash&semi; Africa Renewal&comma; UN &lpar;&commat;africarenewal&rpar; <a href&equals;"https&colon;&sol;&sol;twitter&period;com&sol;africarenewal&sol;status&sol;1246064120245477376&quest;ref&lowbar;src&equals;twsrc&percnt;5Etfw">April 3&comma; 2020<&sol;a><&sol;p><&sol;blockquote>&NewLine;<p><script async src&equals;"https&colon;&sol;&sol;platform&period;twitter&period;com&sol;widgets&period;js" charset&equals;"utf-8"><&sol;script><&sol;p>&NewLine;<p>Unless the virus’ spread can be controlled&comma; up to 50&percnt; of all projected job growth in Africa will be lost as aviation&comma; services&comma; exports&comma; mining&comma; agriculture and the informal sector all take a hit&comma; Ms Eziakonwa said&period;<&sol;p>&NewLine;<p><em>&OpenCurlyDoubleQuote;We will see a complete collapse of economies and livelihoods&period; Livelihoods will be wiped out in a way we have never seen before&comma;”<&sol;em> she warned&period;<&sol;p>&NewLine;<p>The UN Economic Commission &lpar;UNECA&rpar; for Africa has said the pandemic could seriously dent already stagnant growth in many countries&comma; with oil-exporting nations like Nigeria and Angola losing up to 65 billion US dollars &lpar;£52 billion&rpar; in revenue as prices fall&period;<&sol;p>&NewLine;<p>Economies in sub-Saharan Africa are seen as especially vulnerable because many are heavily indebted and some struggle just to implement their budgets under less stressful circumstances&period;<&sol;p>&NewLine;<p>Now the continent might need up to 10&period;6 billion dollars &lpar;£8&period;5 billion&rpar; in unanticipated increases in health spending&comma; and revenue losses could lead to debt becoming unsustainable&comma; UNECA chief Vera Songwe said in March&period;<&sol;p>&NewLine;<p>Urgent calls for an economic stimulus package have followed&period;<&sol;p>&NewLine;<p>Ethiopian prime minister Abiy Ahmed has spoken of an &OpenCurlyDoubleQuote;existential threat” to Africa’s economies while seeking up to 150 billion dollars &lpar;£120 billion&rpar; from G20 nations&period; A meeting of African finance ministers agreed that the continent needs a stimulus package of up to 100 billion dollars &lpar;£80 billion&rpar;&comma; including a waiver of up to 44 billion dollars &lpar;£35&period;4 billion&rpar; in interest payments&period;<&sol;p>&NewLine;<p>South African president Cyril Ramaphosa backed the calls for a stimulus package&comma; saying in a recent speech that the pandemic &OpenCurlyDoubleQuote;will reverse the gains that many countries have made in recent years”&period; Several African nations have been among the fastest-growing in the world&period;<&sol;p>&NewLine;<p>The International Monetary Fund on March 25 said it had received requests for emergency financing from close to 20 African countries&comma; with requests from another 10 or more likely to follow&period;<&sol;p>&NewLine;<p>The IMF has since approved credit facilities for at least two West African nations – Guinea and Senegal – facing virus-related economic disruption&period;<&sol;p>&NewLine;<p>But further challenges remain&period; Rampant corruption in many African countries feeds inequality&comma; and poor or non-existent public services stoke public anger that sometimes escalates into street protests and deadly violence&period;<&sol;p>&NewLine;&Tab;&Tab;&Tab;<div style&equals;"padding-bottom&colon;15px&semi;" class&equals;"wordads-tag" data-slot-type&equals;"belowpost">&NewLine;&Tab;&Tab;&Tab;&Tab;<div id&equals;"atatags-dynamic-belowpost-68ed12d669b04">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;<script type&equals;"text&sol;javascript">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;getAdSnippetCallback &equals; function &lpar;&rpar; &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;if &lpar; false &equals;&equals;&equals; 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