The World Bank issued a sobering economic forecast for Africa on Wednesday, warning of a sharp slowdown in growth due to the multiple global crises that are disproportionately impacting the continent. Rising inflation, food insecurity, higher interest rates in advanced economies and widening inequality exacerbated by the COVID-19 pandemic were among the key factors behind the Bank’s bearish outlook detailed in its biannual Africa Pulse report.
The report’s authors also noted repeatedly throughout the report of the impact of China’s slowing economy brought on in part by the ongoing COVID-19 lockdowns:
