It is undeniable that the COVID-19 crisis is affecting the entire world, and Africa is no exception. Various economists, such as Kasirim Nwuke, say that it is too early to definitively assess the resilience of African economies to the COVID 19 crisis, given that it is not over yet. It is not yet possible to say whether the responses of African countries to mitigate the economic risks associated with the crisis have been effective or not. In addition, Nwuke points out, the results of the different countries have been plural and quite different from each other, not only in economic terms.
It is not only difficult to draw conclusions because of the different results, but also because of the many different trajectories that African countries have taken. For example, in the past we had been able to observe how all countries had jumped at the helm to request debt relief, while in 2020, various countries have decided to do it individually, such as Nigeria or Benin.
African economies are estimated to have contracted between $ 65 billion and $ 75 billion due to the pandemic; however, there are no direct quantitative data on consumption losses and the effectiveness of government measures to mitigate them. When the COVID-19 crisis broke out, as in many other countries, most African countries imposed measures that blocked their economies, thus affecting the population and companies.
The recent arrival of Zlecaf has thrown a ray of light and hope in the economic sector of the continent, making this the leitmotif of many politicians, analysts and economists. We will have to wait a while to see if the promises expected from Zlecaf come to fruition, and with them, a general improvement in Africa\’s economy.
