Advertisement
Singapore markets open in 3 hours 18 minutes

  • Straits Times Index

    3,322.62
    +14.72 (+0.45%)
     

  • S&P 500

    5,267.84
    -39.17 (-0.74%)
     

  • Dow

    39,065.26
    -605.78 (-1.53%)
     

  • Nasdaq

    16,736.03
    -65.51 (-0.39%)
     

  • Bitcoin USD

    67,538.24
    -2,004.21 (-2.88%)
     

  • CMC Crypto 200

    1,458.96
    -43.70 (-2.91%)
     

  • FTSE 100

    8,339.23
    -31.10 (-0.37%)
     

  • Gold

    2,330.60
    -62.30 (-2.60%)
     

  • Crude Oil

    76.98
    -0.59 (-0.76%)
     

  • 10-Yr Bond

    4.4750
    +0.0410 (+0.92%)
     

  • Nikkei

    39,103.22
    +486.12 (+1.26%)
     

  • Hang Seng

    18,868.71
    -326.89 (-1.70%)
     

  • FTSE Bursa Malaysia

    1,629.18
    +7.09 (+0.44%)
     

  • Jakarta Composite Index

    7,222.38
    +36.34 (+0.51%)
     

  • PSE Index

    6,659.99
    +52.77 (+0.80%)
     

World Bank says sub-Saharan Africa will enter recession in 2020

Reuters
·1-min read

NAIROBI (Reuters) - The World Bank forecasts the sub-Saharan Africa region's economic growth for 2020 will contract because of the impact of the coronavirus outbreak, going into a recession for the first time in 25 years, it said on Thursday.

The bank's Africa’s Pulse report said this year's growth will be between minus 2.1% to minus 5.1% from 2.4% last year, and that the coronavirus will cost sub-Saharan Africa $37 billion to $79 billion in output losses this year due to trade and value chain disruption, among other factors.

(Reporting by George Obulutsa; Editing by Christian Schmollinger)