World Bank’s Global Economic Prospects For January 2021

The global economy is expected to grow by 4% in 2021. This projection is based on the initial COVID-19 vaccine rollout which should become widespread throughout the year. A recovery, however, will likely be subdued, unless policy makers move decisively to tame the pandemic and implement investment-enhancing reforms, the World Bank says in its January 2021 Global Economic Prospects. On Business Edge, Tolulope Adeleru-Balogun had Ekos Akpokabayen, Chief Investment Officer at Ovid Capita in Johannesburg, South Africa.

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The East African countries look to borrow more than $750 million in syndicated loans to cushion the economic impact of the Coronavirus pandemic as Kenya, Uganda, South Sudan, and Tanzania have all been seeking either syndicated loans or special drawing rights from the International Monetary Fund (IMF), as they seek to revive economies experiencing the pandemic-induced shocks.