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Covid 19: the opinions of African economists and financiers

03/04/2020
Source : financialafrik.com
Categories: Rate

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Many African economists have spoken out about the great Covid-19 pandemic. The Senegalese expert Abdou Cissé, in an implacable analysis of the interventions of the FED, the ECB, the Bank of England and that of Japan, all marked by the massive injection of liquidities, declares: "France cannot not refuse to the CFA zone monetary practices that it has been implementing since 2015”, opposing the reality of a France under perfusion to that of an Africa CFA zone held to the respect of the rigors and monetary standards. Be that as it may, in this triumphant globalization, nothing will be as before, opines the Ivorian economist and essayist Dr René-François Monckeh, believing that what the father of socialism Karl Max, the author of the best-selling "Capital", hasn't gotten forever, the coronavirus got it in record time.

However, the Bretton Wood institutions will not collapse. The IMF and the World Bank have set in motion a series of measures. The latter had even initiated “Pandemics Bonds” which is discussed in the documented analysis of Meissa Lô, MBA financial expert in asset management. Far from giving in to the moralizing temptation to condemn these risk hedging practices, Meissa Lô points to “the drastic and restrictive conditions which delay the payment of Pandemic Bonds at the cost of the lives of millions of people”. Finance being a reflection of the real economy, Dr Edoh Kossi Amenounvé of the BRVM, believes that “the Coronavirus puts the world stock markets to the test of informational efficiency”.

Bringing the analysis back to the level of the CEMAC zone, Marc KAMGAING, CEO of Harvest Asset Management, based in Douala, looks back on the week of March 9 which saw oil fall to its lowest level for twenty years and, from this heavy trend, analyzes the impact of the fall in prices and of covid-19 on the CEMAC zone. For Ousmane Dieng, chartered accountant, we must act "Africa First", he writes from Abidjan, in a column published on Financial Afrik where he praises Paul Kagame's Rwanda, equating democratic legitimacy and technocratic efficiency. His Malian counterpart, Cheikhna Cissé, economist and banker, analyzes from Bamako, "The world between imposed peace and opposed war", presenting us with a rather bleak picture of the African health system: "every 10 seconds, an African child dies of hunger, every 10 minutes, 15 Africans are killed by AIDS, every hour, 45 Africans die of malaria.

In this region of the world, there are 0.5 beds per 1,000 inhabitants. Excuse a bit! 70% of these beds are already occupied by patients suffering from pathologies linked to the quality of water and sanitation”. This uncompromising diagnosis meets the detailed opinion of the Burkinabe Dr Zacharia Tiemtoré, president of the Higher Institute of Human Security, who takes up this observation which flourished almost everywhere: "We tried to convince ourselves that it was not a disease “of blacks” thinking that this would be enough to spare us”.

In any case, Africa, as Christian Kazumba writes from the banks of the great Congo River, has a unique opportunity to change the development model: "We all share the feeling that nothing will ever be the same again and therein lies - be the good news… Make no mistake, many sub-Saharan nations are at a turning point in their history. Africans themselves must find the necessary resources, as well as sufficient courage, to transform adversity into a unique opportunity to change the development model,” writes the economist, with 15 years of experience in management positions. in Africa.

Pushing the expertise even further, Papa Demba Thiam asks a question: “if we talked about the probable economic causes of the expansion of Covid-19? We must therefore strive to urgently identify the economic poles directly and indirectly linked to the epicentres of the pandemic and to analyze the movements of people on the value chains and the supply chains that link them together and to strengthen the fight against the effects of spread of Covid-19 in priority on these economic poles and along the chains that link them. Just be careful not to take the diaspora as a scapegoat, warns Samir BOUZIDI, Expert in mobilizing African diasporas while the Senegalese Ndèye Marième FALL, President Collectifs Entrepreneurs & CEO Cabinet G&G), reminds us of an urgent question: how to save SMEs African women in these times of uncertainty and confinement. A position that overlaps with that of Dr. Abdourahmane Sarr, in his column entitled: “Senegal, organizing Systemic resilience to the crisis”

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