Tag: hafez ghanem

COVID-19 drives Sub-Saharan Africa toward first recession in 25 years – World Bank report

Growth in Sub-Saharan Africa has been significantly impacted by the COVID-19 pandemic and is forecast to fall from 2.4% in 2019 to -2.1% to -5.1% in 2020, the first recession in the region over the past 25 years, according to the World Bank’s latest Africa’s Pulse report.

Is Nigeria sinking into further debt following fresh loan from World Bank?

World Bank’s Vice President for Africa, Hafez Ghanem says Nigeria has approached the International lender for a $2.5 billion concessionary loan. To discuss concerns around Nigeria’s rising debt, Nonso Obikili, Director of Turgot Centre for Economic Policy & Research joins CNBC Africa for more.