The financial year under review has
been a very difficult one primarily due
to the incidence of the Covid-19 and its
devastating effects on the global economy that
saw growth shrink by 3.1% in 2020 according to
the International Monetary Fund (IMF) projections.
Sub Saharan African states were not spared
at all, declining 1.7% as governments imposed
countervailing measures to stop the spread of
the pandemic, including lockdowns and travel
restrictions, not to mention budgetary expenditure
and monetary quantitative easing measures
targeted at ameliorating the adverse effects on
the socially and economically vulnerable sections
of the economy.