Sub-Saharan Africa is still contending with an unprecedented health and economic crisis. In the months since the October 2020 Regional Economic Outlook: Sub-Saharan Africa, the region has confronted a second coronavirus (COVID-19) wave that swiftly outpaced the scale and speed of the first. While this episode has eased for now, many countries are bracing for further waves, particularly as access to vaccines remains scant.
Sub-Saharan Africa is struggling to navigate an unprecedented health and economic crisis—one that, in just a few months, has jeopardized decades of hard-won development gains and upended the lives and livelihoods of millions.
International Monetary Fund. Western Hemisphere Dept.
The pandemic continues to spread in Latin America and the Caribbean (LAC), but economic activity is picking up. After a deep contraction in April, activity started recovering in May, as lockdowns were gradually eased, consumers and firms adapted to social distancing, some countries introduced sizable policy support, and global activity strengthened.