For the first time in twenty-five years, African markets are set to contract, and African governments will need an estimated $150 billion to cover the fiscal gap created by COVID-19. In response, the African Development Bank (AfDB) has launched a bold $10 billion facility and an unprecedented $3 billion social bond.
The Africa Center had the pleasure of hosting AfDB President Dr. Akinwumi Adesina for an exclusive interview, covering the Bank’s response to the coronavirus, fiscal space, the informal economy, and innovations in the face of COVID-19. Click the link below to watch the full interview, moderated by Africa Center Senior Fellow Ms. Aubrey Hruby.
During this particular period. . . what is not acceptable is fiscal distance.
Aubrey Hruby is a senior fellow with the Atlantic Council’s Africa Center. She is also Co-Founder of Insider and the Africa Expert Network. Follow her on Twitter @AubreyHruby.
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For more content, go to our Coronavirus: Africa page.
