BusinessDay
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Covid pushing 30 million Africans into poverty – IMF

The International Monetary Fund (IMF) has warned that more than 30 million people in sub-Saharan Africa are being pushed into poverty by the economic impact of the coronavirus pandemic.

It has called on wealthier nations to help African countries get better access to vaccines.

The IMF estimates that some African countries – aiming to vaccinate 60% of their populations – will need to increase their health spending by 50%.

Last year, economies in sub-Saharan Africa contracted by almost 2% – the worst year on record.

The lockdowns have hurt businesses – from market-stall holders to tourist resorts and multinationals.

Having a young population seems to have helped protect the continent from the coronavirus.

But with Africa’s population growing so fast, vast numbers of young people need work.

So the lockdowns need to end as soon as possible and the vaccines rolled out quickly to reduce the economic impact across the continent.

The IMF estimates that they will recover this year with a growth spurt of 3.4%, although all other regions in the world are expected to experience greater economic growth.

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