Webinar: The future of finance and banking systems in Africa beyond Covid-19
This webinar first aired by the Overseas Development Institute on June 9, 2020.
Jonathan Rosenthal– Africa Editor, The Economist
Adeyemi Dipeolu – Special Adviser on Economic Matters to the President of Nigeria
Anzetse Were– Senior Economist, FSD Kenya
Judith Tyson– Research Fellow, International Economic Development Group, ODI
Peter Knaack – Senior Research Associate, Global Economic Governance Programme, Oxford University
Razia Khan– Chief Economist Africa, Standard Chartered
The effects of the Covid-19 crisis in sub-Saharan Africa through trade, commodity prices, remittances, tourism and global value chains are likely to be devastating. The World Bank is forecasting a decline in growth in the region from 2.4% in 2019 to between -2.1 and -5.1% this year, estimating African economies could lose between $37 billion and $79 billion in output losses. This will have huge financial impact. On one level, economies will struggle to achieve financial stability and recover as concerns mount on issues around debt sustainability. On another level, the crisis will impact African countries financial sector development (FSD), which may also have implications for how policies and regulations are formulated and implemented in a post-Covid world.
This webinar convenes finance experts and sector stakeholders to discuss the post-Covid trade-offs between financial stability and economic renewal for African countries and what specific FSD policies, and regulation are important to address the fall out and ensure stability after the pandemic. This event is part of the ODI at 60 global reset dialogue series, challenging decision-makers to provide more sustainable and equitable pathways for the future.
This event is part of the ODI at 60 global reset dialogue series, challenging decision-makers to provide more sustainable and equitable pathways for the future.