AfDB: Africa to lose $409.1bn in GDP to COVID-19 in 2 years

AfDB approves $7m

Economic contraction in Africa due to the corrosive effect of Coronavirus pandemic is going to cost the gross domestic product of the continent a whooping $409.1 billion in two years from 2020 to 2001, the African Development Bank (AfDB) has projected. The bank estimated that Africa could lose $173.1 billion in gross domestic product (GDP) in 2020 and $236.7 billion in 2021 because of the pandemic, totaling $409.1 billion in two years. This emerged as the 55th annual meetings of the AfDB and the 46th meetings of the board of governors of…

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