Development

The Covid-19 pandemic has exposed the urgency for African countries to optimise public revenues from their natural resources

Because COVID-19 has overstretched the resources needed to fund essential services like education and health in Africa, the increased continental debt burden and limited inflows of aid and foreign development investment, there is pressure, more than ever to raise revenue locally.

Remittance flows to shrink 14% by 2021 due to COVID-19

Based on the trajectory of economic activities in many large, migrant‐hosting countries, especially the United States, European countries, and the Gulf Cooperation Council (GCC) countries, remittance flows to Low- and Middle-Income Countries are expected to register a decline of 7.2 percent to $508 billion in 2020, followed by a further decline of 7.5 percent to $470 billion in 2021.