The Covid-19 pandemic is taking a severe impact in the economies of China, Africa’s major trading partner, and also Europe and North America. Even with Africa not suffering an outbreak as those in other continents, the disruption of global supply chains is set to increase prices of food and other goods, for importer countries. The market turbulence will particularly complicate the situation for oil-producing countries, like Angola, while travel restrictions have a severe impact on those whose growth relies on Tourism, like Cape Verde and Sao Tome e Principe. The UN´s Economic Commission for Africa (ECA) estimates the coronavirus crisis could “seriously dent” Africa’s already stagnant growth, with oil exporting nations losing up to USD $65 billion in revenues, as crude oil prices continue to tumble. Covid-19 could lead to Africa’s export revenues from fuels falling at around USD 101 billion in 2020. Economic growth forecast for the continent […]