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Africa's Pulse, No. 24, October 2021 : An Analysis of Issues Shaping Africa’s Economic Future

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collection.link.130
https://openknowledge.worldbank.org/handle/10986/5995
collection.link.273
https://openknowledge.worldbank.org/handle/10986/20236
collection.name.130
French PDFs Available
collection.name.273
Africa's Pulse
dc.contributor.author
Zeufack, Albert G.
dc.contributor.author
Calderon, Cesar
dc.contributor.author
Kubota, Megumi
dc.contributor.author
Korman, Vijdan
dc.contributor.author
Cantu Canales, Catalina
dc.contributor.author
Kabundi, Alain Ntumba
dc.date.accessioned
2021-10-05T13:39:12Z
dc.date.available
2021-10-05T13:39:12Z
dc.date.issued
2021-10-06
dc.date.lastModified
2021-10-15T15:03:47Z
dc.description.abstract
In 2021, Sub-Saharan Africa emerged from the recession, but its recovery is still timid and fragile. The region is projected to grow at a rate of 3.3 percent—a weaker pace of recovery than that of advanced and emerging market economies. In 2022–23, the region is projected to grow at rates below 4 percent; however, growth above 5 percent is attainable with rapid vaccine deployment in the region and thereby withdrawal of COVID-19 containment measures. In response to the pandemic, African countries are undertaking structural and economic reforms. Countries have been relatively disciplined on monetary and fiscal policies. However, limited fiscal space is handicapping African countries in injecting the fiscal resources required to launch a vigorous policy response to COVID-19.Accelerating the economic recovery in the region would require significant additional externalfinancing, in addition to rapid deployment of the vaccine. Africa’s unique conditions, such as low baseline development, preexisting climate vulnerabilities, low use of fossil fuel energy, and high reliance on climate-sensitive agriculture, pose additional challenges from climate change, but also provide opportunities to build and use greener technologies. Climate change should be considered by policymakers as a source of structural change. For instance, the energy access problem in the region can be solved by the adoption of renewable energy alongside expansion of the national grid. Policy makers need domestic and international financing to create new jobs—including green jobs. For example, in a region where much of the infrastructure, cities, and transportation systems are yet to be built, investments in climate-smart infrastructure can help cities create jobs. In resource-rich countries, wealth exposure to carbon risk can be reduced by fostering asset diversification that supports human and renewable natural capital accumulation. Financing climate change adaptation in Sub-Saharan Africa is essential, and policies to mobilize resources are critical to create more, better, and sustainable jobs.
en
dc.identifier
https://documents.worldbank.org/en/publication/documents-reports/documentdetail/786721633587328307/main-report
dc.identifier.isbn
978-1-4648-1805-9
dc.identifier.uri
http://hdl.handle.net/10986/36332
dc.publisher
Washington, DC: World Bank
dc.rights
CC BY 3.0 IGO
dc.rights.holder
World Bank
dc.rights.uri
http://creativecommons.org/licenses/by/3.0/igo
dc.subject
ECONOMIC GROWTH
dc.subject
ECONOMIC OUTLOOK
dc.subject
MACROECONOMIC POLICY
dc.subject
FISCAL POLICY
dc.subject
PUBLIC DEBT
dc.subject
OIL SECTOR
dc.subject
TRADE
dc.subject
CORONAVIRUS
dc.subject
COVID-19
dc.subject
PANDEMIC IMPACT
dc.subject
PANDEMIC RESPONSE
dc.subject
CLEAN ENERGY
dc.subject
CARBON ECONOMY
dc.subject
SMART INFRASTRUCTURE
dc.subject
DEBT VULNERABILITY
dc.subject
RECOVERY
dc.subject
JOBS
dc.subject
LAND POLICY
dc.subject
AGRICULTURE
dc.subject
CLIMATE CHANGE
dc.title
Africa's Pulse, No. 24, October 2021
en
dc.title.subtitle
An Analysis of Issues Shaping Africa’s Economic Future
en
dc.type
Serial
en
okr.date.disclosure
2021-10-06
okr.doctype
Publications & Research
okr.doctype
Publications & Research :: Publication
okr.googlescholar.linkpresent
yes
okr.identifier.doi
10.1596/978-1-4648-1805-9
okr.identifier.report
164870
okr.language.supported
en
okr.language.supported
fr
okr.region.administrative
Africa
okr.region.administrative
Africa Eastern and Southern (AFE)
okr.region.administrative
Africa Western and Central (AFW)
okr.region.geographical
Sub-Saharan Africa
okr.topic
Macroeconomics and Economic Growth :: Business Cycles and Stabilization Policies
okr.topic
Macroeconomics and Economic Growth :: Economic Growth
okr.topic
Macroeconomics and Economic Growth :: Economic Policy, Institutions and Governance
okr.topic
Macroeconomics and Economic Growth :: Fiscal & Monetary Policy
okr.topic
Poverty Reduction :: Achieving Shared Growth
okr.topic
Poverty Reduction :: Employment and Shared Growth
okr.unit
AFRCE Office of the Chief Economist for Africa

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