Lagos, March 31, 2021 African countries need strong policies and further support from the international community to avert a debt crisis and protracted low growth, says the United Nations.
In a statement issued by the UN Department of Global Communications, on Wednesday, the global body warned of the devastating socio-economic impact of COVID-19.
The report was jointly signed by Devi Palanivelu, UN Department of Global Communications; and Helen Rosengren, UN Department of Economic and Social Affairs.
It said that the impact of the pandemic would be felt for years to come, unless smart investments in economic, societal and climate resilience were made to ensure a robust and sustainable recovery of the global economy.
Severe downturn undermines African development prospects – UN report – New Business Ethiopia
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UN Report: a severe economic downturn is undermining development prospects in Africa | United Nations Economic Commission for Africa
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Thursday, 28 January 2021, 6:44 pm
Pandemic is threatening to reverse the
progress that the regions have made towards advancing
sustainable development
Bangkok,
28 January The United Nations today warned that
the devastating socio-economic impact of the COVID-19
pandemic will be felt for years to come unless smart
investments in economic, societal and climate resilience
ensure a robust and sustainable recovery of the global
economy.
In 2020, the world economy shrank by 4.3 per
cent, over two and half times more than during the global
financial crisis of 2009. The modest recovery of 4.7 per
cent expected in 2021 would barely offset the losses of
2020, says the latest World Economic Situation and
East and South Asia
Diplomatic Correspondent
28th January, 2021 10:45:18
The United Nations (UN) on Thursday warned that the devastating socio-economic impact of the COVID-19 pandemic will be felt for years to come unless smart investments in economic, societal and climate resilience ensure a robust and sustainable recovery of the global economy.
In 2020, the world economy shrank by 4.3 per cent, over two and half times more than during the global financial crisis of 2009.
The modest recovery of 4.7 per cent expected in 2021 would barely offset the losses of 2020, says the latest World Economic Situation and Prospects.
GDP growth in East Asia fell sharply to 1.0 per cent in 2020, marking the region’s weakest expansion since the Asian financial crisis of the 90s. Widespread mobility restrictions significantly curtailed household spending and investment, while supply chain disruptions and weak global demand adversely affected exports.