Africa bracing for complete collapse of their economies

[Mountainmanbob]

Africa bracing for ‘complete collapse of economies’ as coronavirus takes its toll

African leaders are warning of an economic collapse if financial assistance isn’t provided to the millions of people out of work because of the novel coronavirus.

"The African labor market is driven by imports and exports and with the lockdown everywhere in the world, it means basically that the economy is frozen in place,” Ahunna Eziakonwa, the United Nations Development Program regional director for Africa, told The Associated Press. "And with that, of course, all the jobs are gone."

With some governments saying they're unable to offer direct support, the fate of Africa's large informal sector could be a powerful example of what experts predict will be unprecedented damage to economies in the developing world.

Unless the virus' spread can be controlled, up to 50 percent of all projected job growth in Africa will be lost as aviation, services, exports, mining, agriculture and the informal sector all take a hit, Eziakonwa said.

"We will see a complete collapse of economies and livelihoods. Livelihoods will be wiped out in a way we have never seen before," she warned.

 

[Dave G.]

I think all governments have this concern whether or not they are open about it.

 

[Mountainmanbob]

I think all governments have this concern whether or not they are open about it.

The whole world will lose a chunk of their wealth because of the CV.

Have mercy on those already poor countries that will take yet another blow.

Here we sit in lockdown with our food, four cars in the driveway, computers, laptops and smartphones.
Thank you Lord
and
Please Have Mercy On The Poor.

M

 

[Jonathan Walkerin]

With the superstition and tribalism exceeding Fox News viewers.....yeah Africa is going to have hard time.

 

[chevyontheriver]

Here we sit in lockdown with our food, four cars in the driveway, computers, laptops and smartphones.

Cars in the garage and in the drive but nowhere to go.
Gasoline the stations almost have to give away.
Folks with a five year supply of toilet paper.
Hoarders of facemasks and gloves while hospitals go short,
hoarders of chloroquine which may or may not work,
hoarders with so much food some of it is spoiling.
We're going to get $1200 a piece from our government,
which is more than all but the 1% in Africa make in a whole year.

Please Have Mercy On The Poor.

God will have words with us if we let Africa fall into famine after pestilence. They may not be kind words. especially for those of the household of faith.

My hope and prayer for Africa is that Chloroquine works on this disease, so there will be at least a partial resistance to getting it. And that maybe Malaria can be reduced as well if the Chloroquine supplies in Africa can be boosted. Presuming of course that the rich countries haven't cornered the world's supply of the stuff.

I'm thinking we are going to need a new Christian relief effort like the Peace Corps after the economic clobbering Africa is likely to see as a result of this.

 

[dqhall]

Africa bracing for ‘complete collapse of economies’ as coronavirus takes its toll

African leaders are warning of an economic collapse if financial assistance isn’t provided to the millions of people out of work because of the novel coronavirus.

"The African labor market is driven by imports and exports and with the lockdown everywhere in the world, it means basically that the economy is frozen in place,” Ahunna Eziakonwa, the United Nations Development Program regional director for Africa, told The Associated Press. "And with that, of course, all the jobs are gone."

With some governments saying they're unable to offer direct support, the fate of Africa's large informal sector could be a powerful example of what experts predict will be unprecedented damage to economies in the developing world.

Unless the virus' spread can be controlled, up to 50 percent of all projected job growth in Africa will be lost as aviation, services, exports, mining, agriculture and the informal sector all take a hit, Eziakonwa said.

"We will see a complete collapse of economies and livelihoods. Livelihoods will be wiped out in a way we have never seen before," she warned.

In the slums of Mumbai, India laborers earned $8 a day. They can not work as a lockdown is in place. They fear starvation.

 

[Mountainmanbob]

In the slums of Mumbai, India laborers earned $8 a day. They can not work as a lockdown is in place. They fear starvation.

Much wealth is being spent by all countries because of CV. These poor souls that you have mentioned will probably be lucky to earn 4 dollars a day after this is over due to even more extreme devaluation.

Regarding the US I'm guessing we will lose at least 25% of all of our wealth because of CV.

Rough times ahead for most all.

M-Bob

 

[dqhall]

Much wealth is being spent by all countries because of CV. These poor souls that you have mentioned will probably be lucky to earn 4 dollars a day after this is over due to even more extreme devaluation.

Regarding the US I'm guessing we will lose at least 25% of all of our wealth because of CV.

Rough times ahead for most all.

M-Bob

Japan is expected to declare a state of emergency soon.

 

[Mountainmanbob]

Japan is expected to declare a state of emergency soon.

This CV is taking a toll.
It all got too real -- real fast.

Show how fragile the world truly is.

M-Bob

 

[dqhall]

This CV is taking a toll.
It all got too real -- real fast.

Show how fragile the world truly is.

M-Bob

There are tens of thousands of migrant workers confined to their dorm rooms in Singapore after dozens tested positive for coronavirus. Singapore is 70 miles from the equator.

Austria wants to roll back some quarantine restrictions.

Barbados ordered respirators. They were taken in transit by a higher bidder.

 

[chevyontheriver]

This CV is taking a toll.
It all got too real -- real fast.

Show how fragile the world truly is.

M-Bob

And Corona Virus isn't even a slate wiper.

 

[Arc F1]

Africa bracing for ‘complete collapse of economies’ as coronavirus takes its toll

African leaders are warning of an economic collapse if financial assistance isn’t provided to the millions of people out of work because of the novel coronavirus.

"The African labor market is driven by imports and exports and with the lockdown everywhere in the world, it means basically that the economy is frozen in place,” Ahunna Eziakonwa, the United Nations Development Program regional director for Africa, told The Associated Press. "And with that, of course, all the jobs are gone."

With some governments saying they're unable to offer direct support, the fate of Africa's large informal sector could be a powerful example of what experts predict will be unprecedented damage to economies in the developing world.

Unless the virus' spread can be controlled, up to 50 percent of all projected job growth in Africa will be lost as aviation, services, exports, mining, agriculture and the informal sector all take a hit, Eziakonwa said.

"We will see a complete collapse of economies and livelihoods. Livelihoods will be wiped out in a way we have never seen before," she warned.

On top of all of that, they are dealing with the grasshoppers. And we think we all have it bad.