This is according to the Economic Report on Africa 2021(ERA2021) launched today on the margins of the Economic Commission for Africa’s annual Conference of Ministers of Finance, Economic Planning and Development (CoM2022) in Dakar, Senegal. Titled: “Addressing Poverty and Vulnerability in Africa during the COVID-19 Pandemic”, the report shows that pandemic has caused job losses, reduced income and further limited the ability of households to manage risks. “Under current projections, the pandemic is likely to increase the number of people living in extreme poverty, in Africa and globally,” says the report. Hanan Morsy, ECA’s Deputy Executive Secretary said the report analyses the implication of COVID-19 in terms of poverty, but brings a new dimension stressing the vulnerability in Africa. Africa’s trade trendsThe share of global exports decreased from 2010 to 2019 in Africa but increased in other global regions.

Source: News Business Ethiopia May 16, 2022 20:23 UTC