COVID-19 and Trade in SSA : Impacts and Policy Response

Measures taken to curtail the spread of COVID-19 have led to a sharp contraction of the global economy and an even larger decline in trade, with significant implications on the livelihoods of people in Africa. Despite the relatively low number of c...

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Main Author:	Kassa, Woubet
Format:	Policy Note
Language:	English
Published:	World Bank, Washington, DC 2020
Subjects:	CORONAVIRUS COVID-19 PANDEMIC RESPONSE COMMODITY PRICES DIVERSIFICATION GLOBAL VALUE CHAIN TRADE GARMENT INDUSTRY TRADE POLICY TRADE FACILITATION REGIONAL COOPERATION
Online Access:	http://documents.worldbank.org/curated/en/914781591043537997/COVID-19-and-Trade-in-SSA-Impacts-and-Policy-Response http://hdl.handle.net/10986/33841

id	okr-10986-33841
recordtype	oai_dc
spelling	okr-10986-338412021-05-25T09:56:35Z COVID-19 and Trade in SSA : Impacts and Policy Response Kassa, Woubet CORONAVIRUS COVID-19 PANDEMIC RESPONSE COMMODITY PRICES DIVERSIFICATION GLOBAL VALUE CHAIN TRADE GARMENT INDUSTRY TRADE POLICY TRADE FACILITATION REGIONAL COOPERATION Measures taken to curtail the spread of COVID-19 have led to a sharp contraction of the global economy and an even larger decline in trade, with significant implications on the livelihoods of people in Africa. Despite the relatively low number of cases, the region's economy would be hard hit due to its high reliance on trade, heavy dependence on commodities, a fragile food system, and limited fiscal capacity to respond. This reinforces the region's inherent vulnerabilities, posing risks of wiping out the gains made in poverty reduction. Countries that have been registering robust growth face rapid growth declines. The response calls for a regional and global coordination to scale up safety nets, facilitate flow of essential goods and ease the region's debt burden to free some fiscal space. There is a need for active policies to support enterprises so that disruptions are not permanent. As they chart their operations beyond the pandemic, countries should reexamine their industrial policies and firms need to rethink their strategies to address emerging uncertainties. 2020-06-03T13:52:32Z 2020-06-03T13:52:32Z 2020-06-01 Policy Note http://documents.worldbank.org/curated/en/914781591043537997/COVID-19-and-Trade-in-SSA-Impacts-and-Policy-Response http://hdl.handle.net/10986/33841 English Africa Knowledge in Time Policy Brief;1(1) CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work Economic & Sector Work :: Policy Note Africa Sub-Saharan Africa
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	CORONAVIRUS COVID-19 PANDEMIC RESPONSE COMMODITY PRICES DIVERSIFICATION GLOBAL VALUE CHAIN TRADE GARMENT INDUSTRY TRADE POLICY TRADE FACILITATION REGIONAL COOPERATION
spellingShingle	CORONAVIRUS COVID-19 PANDEMIC RESPONSE COMMODITY PRICES DIVERSIFICATION GLOBAL VALUE CHAIN TRADE GARMENT INDUSTRY TRADE POLICY TRADE FACILITATION REGIONAL COOPERATION Kassa, Woubet COVID-19 and Trade in SSA : Impacts and Policy Response
geographic_facet	Africa Sub-Saharan Africa
relation	Africa Knowledge in Time Policy Brief;1(1)
description	Measures taken to curtail the spread of COVID-19 have led to a sharp contraction of the global economy and an even larger decline in trade, with significant implications on the livelihoods of people in Africa. Despite the relatively low number of cases, the region's economy would be hard hit due to its high reliance on trade, heavy dependence on commodities, a fragile food system, and limited fiscal capacity to respond. This reinforces the region's inherent vulnerabilities, posing risks of wiping out the gains made in poverty reduction. Countries that have been registering robust growth face rapid growth declines. The response calls for a regional and global coordination to scale up safety nets, facilitate flow of essential goods and ease the region's debt burden to free some fiscal space. There is a need for active policies to support enterprises so that disruptions are not permanent. As they chart their operations beyond the pandemic, countries should reexamine their industrial policies and firms need to rethink their strategies to address emerging uncertainties.
format	Policy Note
author	Kassa, Woubet
author_facet	Kassa, Woubet
author_sort	Kassa, Woubet
title	COVID-19 and Trade in SSA : Impacts and Policy Response
title_short	COVID-19 and Trade in SSA : Impacts and Policy Response
title_full	COVID-19 and Trade in SSA : Impacts and Policy Response
title_fullStr	COVID-19 and Trade in SSA : Impacts and Policy Response
title_full_unstemmed	COVID-19 and Trade in SSA : Impacts and Policy Response
title_sort	covid-19 and trade in ssa : impacts and policy response
publisher	World Bank, Washington, DC
publishDate	2020
url	http://documents.worldbank.org/curated/en/914781591043537997/COVID-19-and-Trade-in-SSA-Impacts-and-Policy-Response http://hdl.handle.net/10986/33841
_version_	1764479635169476608

COVID-19 and Trade in SSA : Impacts and Policy Response

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