Tag: rudi steinbach
The World Bank expects emerging markets and developing economies to shrink by 2.5 per cent this year, their first decline in six years, due to the impacts of Covid-19. Furthermore, per capita incomes are also expected to contract and tip millions of people into extreme poverty this year. Rudi Steinbach, Senior Economist, World Bank joins CNBC Africa for more.
The world is increasingly becoming fractured. Trade wars have extended beyond the US and China to Japan and South Korea. Boris Johnson, the UK's new prime minister, says Brexit will be done and dusted by 31st October. In this climate Africa's free trade agreement makes more sense than ever. Rudi Steinbach, Africa Specialist and Senior Economist at the World Bank joins CNBC Africa for more.
With trade tensions high and international trade investment low, the World Bank is predicting slowed economic growth for emerging markets this year. For Sub-Saharan Africa, the number is set at 3.4 per cent. Joining CNBC Africa for more is Rudi Steinbach, Senior Economist, World Bank Prospects Group.