Covid-19: 40 million more poor in Africa, according to the World Bank

Distribution of food to the poorest in the North Region of Burkina Faso.

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4 min

Weighted down by the economic fallout from the Covid-19 pandemic, growth in sub-Saharan Africa is expected to drop to -3.3% in 2020, dragging the region into its first economic recession in 25 years, according to the latest regional economic analysis “Africa's Pulse”, produced by the World Bank.

The pandemic also risks pushing 40 million Africans into extreme poverty, erasing at least five years of progress in the fight against poverty.

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It's a chilling figure: 40 million Africans are at risk of falling into extreme poverty, roughly three times the population of Senegal.

Extreme poverty means that one has to live on less than $ 1.9 a day, or 1,000 CFA francs.

This year, the pandemic will have set the continent back five years in terms of poverty reduction.

The World Bank, which analyzes the phenomenon, also notes that many African countries have taken the zebu by the horns.

Thus, in sub-Saharan Africa, 46 of them have adopted social protection measures intended to strengthen the purchasing power of households: tax cuts, access to care programs, moratoriums on electricity bills or even

distributions. of food

for the most deprived.

Albert Zeufack, economist for the World Bank notes the efforts of African States on the social

Olivier Rogez

Moreover, while the global crisis has highlighted the lack of diversification of economies, African countries are embarking on programs of modernization and job creation.

But, warns the World Bank, all this at a financial cost, and it is becoming more than urgent to help African countries find the means.

The World Bank calls on private creditors to join

the debt relief

movement

started by the seven richest countries.

She also asks Europe to help her advocate for this with powers such as India and China.

►Also read: IMF: release of emergency aid for 28 countries, including 22 African

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  • Africa

  • Economy

  • Poverty

  • Coronavirus

  • Economy Africa

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