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Articles by UNCTAD Secretary-General
New opportunities for accelerating pan-African trade
The African Continental Free Trade Area (AfCFTA) has opened a new chapter for the continent and rekindled hopes for recovery through trade in a post COVID-19 world. As nations continue to battle a pandemic that does not respect national borders, the $3.4 trillion borderless market created by the AfCFTA presents an opportunity to reduce COVID-19 induced growth contraction, poverty and inequality trends, and spur sustainable and inclusive growth on the continent.
Africa: Curb Capital Flight to Help Fund COVID-19 Response in Africa
Curbing capital flight and other illicit financial flows from Africa can generate $88.6 billion a year. These funds can help respond to the COVID-19 crisis and build the resilience of African economies going forward. The United Nations estimates that African countries will need at least $200 billion to cope with the socioeconomic costs of the COVID-19 pandemic, in addition to emergency health spending. Where can the continent raise these new funds? Prospects for new inflows are limited.
''Made in Monde'': Time to rethink the system
The spread of the coronavirus is in its full swing. Just a few weeks ago, it was unthinkable that entire cities or regions would be locked down, businesses shut down, schools close, events be cancelled, and some essential products like ibuprofen would become scarce. This has quickly turned into a reality, writes Isabelle Durant. The magnitude of the impact is immense and growing, and signaling to a contraction of world GDP.
Africa: Post-Niamey, How Can the African Continental Free Trade Area Deliver 'Made in Africa'?
On 06-07 July 2019 I was in Niamey both for the pre-Summit Business Forum and for the African Union’s Extra-Ordinary Summit to celebrate the first Anniversary of the Signing of the African Continental Free Trade Area (AfCFTA) and launch of its operational phase. What is the outlook for the World’s largest single market? As I write, the AfCFTA process is well on track to be ready for trading in July 2020 as planned and Accra, Ghana has been chosen as a location of the AfCFTA Secretariat.
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