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Vol 62 No 22

Published 4th November 2021

A slow road to recovery

The region’s economies on average will lose over 5% of output by 2024 relative to pre-pandemic trends, according to the IMF

Twenty months since Covid-19 first disrupted the global economy, the outlook for Africa's economies remains subdued. The upgrades by the International Monetary Fund (IMF) and World Bank at their annual meetings (compared to April) of their 2021 real GDP growth projections for sub-Saharan Africa (to 3.7% and 3.3%, respectively), and those for key North Africa economies, do not change the reality that Africa's recovery will lag behind global averages both this year and likely next.

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