Side Event

Due to COVID – 19, under projected scenarios for the contraction of growth, cumulatively, Africa’s GDP losses could range between $173.1 billion and $236.7 billion in 2020–2021 according to the African Economic Outlook 2020 Supplement (https://www.afdb.org/en/knowledge/publications/african-economic-outlook)

Countries with poor healthcare systems, those that rely heavily on tourism, international trade, and commodity exports, and those with high debt burdens and high dependence on volatile international financial flows are the worst affected. 

The overall impact of the pandemic on socioeconomic outcomes remains uncertain.  It will depend crucially on the unfolding epidemiology of the virus, the extent of its impacts on demand and supply, the effectiveness of public policy responses, and the persistence of behavioral changes.

Rebuilding after COVID – 19, would require a purposeful and political commitment of AU Member States to recover economies and to prepare for further hazards such as impacts of climate change, for example, severe droughts, cyclones and flooding among others, including violent conflicts.   It also requires effective public policy responses on health, education, economics, social aspects, and political behaviors. In a nutshell, effective governance and sustainable peace and development agenda can see Africa easily positioning itself to re-bouncing back strongly.

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