المستخلص: |
The aim of the study is to monitor and analyze the economic effects of Corona virus crisis on the economies of African countries and how their governments responded to this it with a number of recommendations to alleviate the effects of that crisis on these countries. The study presented the developments of the global economy and the impact of the pandemic on it, as it also dealt with the effects of the spread of the virus on the economic growth rates in the continent and on the most important sectors such as oil and its main producing countries. The study also focused on the tourism and travel sector and the most important touristic destinations in Africa, while the study concluded that the continent will suffer from significant negative effects of this crisis on economic growth rates and foreign exchange flows, whether represented by declining values of workers' remittances, foreign direct investment, or official development assistance. In addition to the disastrous consequences of oil prices collapse and travel and tourism sector on the African economies that mainly depend on them, African governments have taken many economic and financial measures to tackle the pandemic, and African regional institutions such as the African Union Commission and the African Development Bank have had an important role in coordination with the World Health Organization (WHO)
|