By Ronak Gopaldas
The outbreak of the coronavirus disease named COVID-19 has led to mass fear and panic worldwide. Although the infection rate in Africa has been minimal to date, concern is mounting that its arrival on a bigger scale is imminent, and that the continent won’t be adequately prepared for the fallout.
It’s widely thought that a pandemic would disproportionately affect Africa given its relatively underdeveloped healthcare sector, insufficient infrastructure and porous borders. Similarly, the economic fallout for the continent is likely to be severe and long-lasting. Many of its countries having a high dependence on commodity exports to China, relatively weak sovereign balance sheets, high debt burdens and volatile currencies, among numerous other external fragilities.
With widespread confusion and uncertainty around the economic, political and security aspects of the virus, policymakers, civil society and business are scrambling to adequately prepare for its consequences.
While China was ground-zero for the COVID-19 outbreak, a discussion of its impact on Africa can’t be limited to Sino-Africa relations. COVID-19’s rapid transmission around the world, China’s deeply embedded role in global demand and supply chains, and the broader implications of international fiscal and monetary stimulus on Africa are critical in ascertaining possible scenarios facing Africa. Read more…
