A roundup of the latest news, stats, and analysis of COVID-19’s impact in Africa. View our data tracker and sign up for our weekly newsletter here, and read on for more on COVID’s impact on food security in Africa. But first, what to look for at this week’s G7 meeting.
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War-time footing: South African President Cyril Ramaphosa, new Italian Prime Minister and G20 Chair Mario Draghi, and US President Joe Biden have all said we are at war with...
Policy
The world’s richest countries are on track to accumulate over 1 billion more doses of COVID-19 vaccines than they need to fully vaccinate all their citizens, according to new analysis from ONE’s Policy team. Meanwhile, the rest of the world has only been able to secure 2.5 billion doses of the most promising vaccines — leaving billions of people with little hope of receiving a vaccine this year. These excess doses purchased by rich countries alone would be sufficient...
A roundup of the latest news, stats, and analysis of COVID-19’s impact in Africa. View our data tracker and sign up for our weekly newsletter here, and read on for a primer on COVAX and what to look for at this week’s G7 meeting. But first, how to avert a lost decade for African development.
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Lost decade: COVID is set to cost the global economy on average $1 billion a day over the next six years, according to the...
COVID-19 is threatening to wipe out decades of economic progress and development gains. Sub-Saharan Africa fell into recession for the first time in 25 years in 2020, with economic growth contracting by 3%, the worst on record.
For many countries, a return to 2019 economic growth levels will not occur until 2022–24. Alarmingly, the pandemic will push up between 88 and 115 million people into extreme poverty — those living under US$1.90 a day — around the globe, reversing the...
The OECD DAC, which tracks official development assistance (ODA) spending, has released the latest global aid figures. Due to a lag in reporting and analysis, these only cover through the end of 2019, but they paint a grim picture for what development assistance looked like in the lead up to the global pandemic.
While overall global aid totalled US$151.7 billion, aid fell far short of commitments, and what’s more, development assistance to Africa and the most vulnerable countries declined.
The top...
A roundup of the latest news, stats, and analysis of COVID-19’s impact in Africa. Read on for more about which country has reached 1 million cases and Tanzania’s continued pandemic silence. But first, how to prevent a vaccine apartheid.
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Catastrophic moral failure: UNAIDS Director Winnie Byanyima recently called out the emerging ‘“Vaccine Apartheid” as rich countries hoard vaccine supplies. WHO Director General Tedros said “We are on the brink of a catastrophic moral failure.” The Economic Intelligence Unit predicts...
Fighting a pandemic and its economic aftershocks requires enormous amounts of money. In higher income countries, governments have stepped forward with trillions in economic stimulus packages. But the majority of developing countries do not have the money to cover the full costs of this pandemic.
Suspending debt service payments is one of the fastest, most effective means of freeing up cash in developing country budgets. The Debt Service Suspension Initiative (DSSI), a G20 agreement to suspend debt service payments for...
In 2020, global health has gone from a fringe issue to the forefront of people’s mind, all thanks to COVID-19. The last time the entire world came close to being as focused on a pandemic threat was over two decades ago, when HIV/AIDS was killing almost 4,000 people every day and new infections doubled year after year.
Since then, the global response to AIDS has become a success story, and AIDS-related deaths have been cut by more than half. Today,...
In order to end this pandemic, everyone must play their part, and that includes the private sector. Their leadership, innovation, skills, knowledge, and financial muscle are desperately needed. This crisis has undoubtedly taken a heavy toll on businesses, but the quickest way to get back on track is to end the pandemic.
Companies can play a critical role in getting vaccines and other treatments to the people globally who need them. Whether through investing in the ACT-Accelerator initiative, committing to...
The World Bank predicts the greatest drop in remittances in recent history, with low-income developing countries set to receive US$110 billion less, due to COVID-19 in 2020.
Remittances, which are the cash flows sent home by migrant workers to help their families, are a huge source of finance for low- and-middle-income countries. Last year, these countries received 78% of the US$714 billion that were sent around the world. Global remittance flows were five times higher than official development assistance in...