The African Development Bank says African growth will rebound this year, recovering from its first recession in 50 years. In its flagship African Economic Outlook report, Africa’s biggest development bank noted tourism dependent economies, oil exporters and resource rich nations had been the hardest hit by the pandemic.
The 2021 edition of the African Economic Outlook focuses on debt resolution, governance, and growth in Africa. Chapter 1 examines Africa’s growth performance and outlook amid the COVID–19 pandemic. The chapter emphasizes policy options to mitigate the effects of the pandemic in the short, medium, and long terms. Chapter 2 explores the causes and consequences of Africa’s debt dynamics by showing how the changing structure and composition of debt create vulnerabilities. In chapter 3, the report takes stock of the challenges in the current global architecture for debt resolution and explores the link between governance and growth with an emphasis on proposed reforms to improve the processes of debt resolution, governance, and sustainable growth.
Read and download the full report below: