The Economic Costs Of Covid 19 In Sub Saharan Africa Insights From A Simulation Exercise For Ghana

Download or read book The economic costs of COVID-19 in Sub-Saharan Africa: Insights from a simulation exercise for Ghana written by Amewu, Sena and published by Intl Food Policy Res Inst. This book was released on 2020-06-12 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: The objective in this paper is to estimate the economic costs of COVID-19 policies and external shocks in a developing country context, with a focus on agri-food system impacts. Ghana is selected as a case study. Ghana recorded its first two cases of COVID-19 infection on 12 March 2020. The government responded by gradually introducing social distancing measures, travel restrictions, border closures, and eventually a partial, two-week “partial” lockdown in the country’s largest metropolitan areas of Accra and Kumasi. Social distancing measures have been enforced nationwide and include bans on conferences, workshops, and sporting and religious events, as well as the closure of bars and nightclubs. All educational institutions are also closed. The partial lockdown measures in urban areas directed all residents to remain home except for essential business, prohibited non-essential inter-city travel and transport, and only essential manufacturing and services operations were permitted to continue (The Presidency 2020). At the time the lockdown was announced, Ghana’s Ministry of Finance revised its GDP growth estimate for 2020 downwards from 6.8 to 1.5 percent (MoF 2020), although the Minister warned that growth could fall further if lockdown measures were extended. The lockdown was initially extended for a third week but was officially lifted on 20 April. Social distancing measures remain in place nationwide, although a gradual easing of restrictions commenced in June. Ghana’s borders remain closed at the time of writing.

Download or read book Global Trends 2040 written by National Intelligence Council and published by Cosimo Reports. This book was released on 2021-03 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The ongoing COVID-19 pandemic marks the most significant, singular global disruption since World War II, with health, economic, political, and security implications that will ripple for years to come." -Global Trends 2040 (2021) Global Trends 2040-A More Contested World (2021), released by the US National Intelligence Council, is the latest report in its series of reports starting in 1997 about megatrends and the world's future. This report, strongly influenced by the COVID-19 pandemic, paints a bleak picture of the future and describes a contested, fragmented and turbulent world. It specifically discusses the four main trends that will shape tomorrow's world: - Demographics-by 2040, 1.4 billion people will be added mostly in Africa and South Asia. - Economics-increased government debt and concentrated economic power will escalate problems for the poor and middleclass. - Climate-a hotter world will increase water, food, and health insecurity. - Technology-the emergence of new technologies could both solve and cause problems for human life. Students of trends, policymakers, entrepreneurs, academics, journalists and anyone eager for a glimpse into the next decades, will find this report, with colored graphs, essential reading.

Download or read book The short-run economic costs of COVID-19 in developing countries in 2020: A synthesis of results from a multi-country modeling exercise written by Pauw, Karl and published by Intl Food Policy Res Inst. This book was released on 2021-06-04 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: As COVID-19 spread across the globe in early 2020, governments had to make difficult policy choices to balance the socioeconomic costs of social distancing and lockdown measures, on the one hand, and the human costs of increased morbidity and mortality of an unchecked pandemic, on the other. The challenge was particularly daunting for developing countries with their often illequipped and underfunded health systems coupled with general skepticism about the effectiveness of economic restrictions to curb viral spread, especially in densely populated informal urban communities (The Economist 2020). Poorer developing country populations also tend to be less resilient to income shocks, while the social protection measures needed to mitigate against income losses are costly. With developing country governments already heavily indebted before the pandemic (Onyekwena and Ekeruche 2019), and with further anticipated losses in tax revenues due to COVID-related economic restrictions, their ability to finance palliative measures without sacrificing much-needed, longer-term public investments has remained a major concern.

Download or read book Assessing the short-term impacts of COVID-19 on Ethiopia’s economy: External and domestic shocks and pace of recovery written by Aragie, Emerta and published by Intl Food Policy Res Inst. This book was released on 2020-12-09 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, we analyze the economic impacts of response measures adopted in Ethiopia to curtail the spread of the COVID-19 pandemic. We carry out simulations using an economywide multiplier model based on a 2017 Social Accounting Matrix (SAM) for the country that properly depicts interactions between economic agents. The pandemic’s impact on the global economy combined with disruptions it causes in Ethiopia represents a large, unprecedented shock to the country’s economy. In such situations, a SAM-based multiplier model provides an ideal tool for measuring the short-term direct and indirect impacts of a shock on an economic system since there is limited room for proper adjustment of economic decisions. We model the seven-week partial lockdown policy implemented in Ethiopia from mid-March to early May 2020. We also consider two possible economic recovery scenarios that may emerge as the COVID-19 control policies are relaxed during the latter part of 2020 in order to generate insights on the potential continuing impact of the virus at the end of 2020. Although the country took early swift measures, our assessment of the partial lockdown measures suggests that they were not as strict as those observed in other Africa countries. Accordingly, our estimates of the economic costs of COVID-19 on Ethiopia are significantly lower than those reported for other countries on the continent. We estimate that during the lockdown period Ethiopia’s GDP suffered a 14 percent loss (43.5 billion Birr or 1.9 billion USD) compared to a no-COVID case over the same period. Nearly two-thirds of the losses were in the services sector. Although no direct restrictions were imposed on the agriculture sector, which serves as the primary means of livelihood for most Ethiopians, the sector faced a 4.7 percent loss in output due to its linkages with the rest of the economy. Poor export performance due to a slowdown in global trade and restrictions on the transport sector also partly explain the decline in agricultural output. The broader agri-food system also was affected considerably because of its linkages with the rest of the economy. In terms of the welfare of Ethiopians, we estimate that the economic impacts during the lockdown caused 10.1 million additional people to fall below the poverty line. These findings have implications for better understanding the direct and indirect impacts of COVID-19 and for policy design during the recovery period to return Ethiopia’s economy to a normal growth trajectory and to protect the livelihoods of the most vulnerable in the process.

Download or read book The short-term impact of COVID-19 on Ethiopia’s economy through external sector channels: An economywide multiplier model analysis written by Aragie, Emerta and published by Intl Food Policy Res Inst. This book was released on 2020-12-09 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt: The COVID-19 pandemic is expected to considerably affect the Ethiopian economy directly and indirectly due to global shocks and to the different restrictive preventative measures the country is taking. We analyze these economic effects using multisector economywide income multiplier models built on the two latest Social Accounting Matrices (SAMs) developed for Ethiopia. Three external sector channels are the focus of the analysis: commodity exports, strategic imports, and remittances. Results indicate that in the absence of any policy responses, the Ethiopian economy is expected to experience a loss of approximately 4.3 to 5.5 percent of its annual GDP due to exports, strategic imports, and remittances that are one-third lower relative to the no-COVID situation over a period of six-months. This translates into estimated reductions in labor income of between 4.2 and 5.2 percent. The SAM multiplier model estimates also imply that these negative shocks lead to household income losses that amount to between 3.9 and 6.4 percent. In particular, the urban poor will be the most affected as they lose real incomes in the range of 6.6 to 8.5 percent. These income losses are estimated to result in a 3.5 percentage point rise in the national poverty headcount.

Download or read book Economic, Environmental and Health Consequences of Conservation Capital written by Ramesh Chandra Das and published by Springer Nature. This book was released on 2023-08-26 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book tackles the oft ignored role of conservation capital in mainstream discussions in maintaining sustainable development of a country in particular, and the world economy in general. A continuous increase in global temperature trends, climate change, and other related factors has compelled academicians from natural as well as social sciences to reorient classical thought from high growth through large resource extraction, to sustainable growth through lower extraction. This leads one to the important role of generation of conservation capital to satisfy long-term growth and development objectives of economies. This book covers studies on the related issues of conservation capital, environmental crisis, and health impacts from the perspectives of different countries. The highlight is inclusion of some studies on the impact of environmental degradation in relation to COVID 19 pandemic. The book coaxes policy makers to rethink on the optimum use of environmental resources for economic and social activities. The broad coverage of studies included from different regions across the globe ensures that the book finds a wide readership among students and researchers from economics and other social sciences and natural sciences, along with policy makers intent on forming policies leading to a more sustainable growth model.

Download or read book Proceedings of the 3rd Borobudur International Symposium on Humanities and Social Science 2021 (BIS-HSS 2021) written by Muji Setiyo and published by Springer Nature. This book was released on 2023-02-10 with total page 1094 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is an open access book. Still related to the big theme of reinforcement the SDG’s at the previous conference, we try to invite academics and researchers in the world to participate in the 3rd Borobudur International Symposium 2021 (3rd BIS 2021). As we know, The COVID-19 pandemic and its impact on all 17 SDGs have demonstrated that what began as a health catastrophe swiftly transformed into a human and socioeconomic crisis. In September 2019, the UN Secretary-General urged all sectors of society to mobilize for a decade of action on three fronts: global action to ensure increased leadership, increased resources, and smarter solutions for the Sustainable Development Goals; local action to embed the necessary transitions into governments’ policies, budgets, institutions, and regulatory frameworks; and international action to ensure greater leadership, increased resources, and smarter solutions for the Sustainable Development Goals. Especially in 3rd BIS 2021, we brought up “Decade of Action towards Environmental Issues: Advancing the Innovation to Recover our Planet” as main theme. The conference will be held on Wednesday, December 15, 2021 in Magelang, Central Java, Indonesia. Scope includes Art & Linguistics, Communication, Economics, Education, Government Studies, Health Administration, Hospitality, International Relations, Law, Pharmacy, Political Studies, Psychology, Public Health, Religious Studies, Sociology, Health Sciences.