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Economy & Politics

Like Nigeria, Senegal confirms first case of Coronavirus

Senegalese Minister of Health, Abdoulaye Diouf Sarr, has announced that a case of the deadly disease has been discovered in his country on Monday.

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Like Nigeria, Senegal confirms first case of Coronavirus

Four days after Nigeria confirmed its first case of coronavirus, the Senegalese Minister of Health, Abdoulaye Diouf Sarr, has announced that a case of the deadly disease has been discovered in his country on Monday. This is the second case in sub-Saharan Africa.

The rapid spread of the new coronavirus has increased fears of a pandemic, prompting governments to step up control measures and sending global financial markets into a dive.

Sarr disclosed that the carrier in Senegal is a French man, who lives in Senegal and came back from a skiing holiday in France on Feb. 26 on an Air Senegal flight.

According to him, the carrier passed a temperature check at the capital Dakar’s main airport on his return but developed a fever two days later and went to a private clinic for a check-up.

He said, “That clinic alerted the authorities who have quarantined him in Dakar’s Fann Hospital. The patient had been in contact with his wife and two children. It was not clear how many other people had also been in contact with him. Authorities are in the process of tracing the other passengers on the Air Senegal flight.

READ MORE: Coronavirus causes prices of Chinese products in Nigeria to soar

Details of global impact: As of Monday, there have been over 89,000 cases of the virus, the majority in China, according to a Reuters tally. Outside of China, it has spread to 66 countries, with more than 8,800 cases and 130 deaths. Globally, the illness has killed over 3,000 people.

In Africa: North African countries Tunisia, Algeria and Egypt have also confirmed cases of the virus.

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Meanwhile, the risk of a global spread and impact of the coronavirus is now “very high”, the highest level of alarm, but the World Health Organisation insists that containment is still possible.

Africa’s Centres for Disease Control and Prevention says it has activated its emergency operation centre for a continent where healthcare capacity is limited and early detection is vital.

The WHO has identified 13 top-priority countries which either have direct links or a high volume of travel to China, but Senegal was not on that list.

What Senegalese government says … The government has made public announcements on state television advised people to wash their hands and masked health officials conduct temperature checks at the airport while others film arriving passengers.

President Macky Sall said, “The health services are taking care of the patient according to the procedure recommended by the World Health Organization.”

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Abiola has spent about 14 years in journalism. His career has covered some top local print media like TELL Magazine, Broad Street Journal, The Point Newspaper.The Bloomberg MEI alumni has interviewed some of the most influential figures of the IMF, G-20 Summit, Pre-G20 Central Bank Governors and Finance Ministers, Critical Communication World Conference.The multiple award winner is variously trained in business and markets journalism at Lagos Business School, and Pan-Atlantic University. You may contact him via email - [email protected]

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Economy & Politics

Insecurity: FG to implement town hall meetings to reach a national consensus

The meetings are set to address the twin issues of insecurity and its concomitant effect on national unity and cohesion.

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Insecurity: FG to implement town hall meetings to reach a national consensus

The Federal Government announced the launch of town hall meetings to address the twin issues of insecurity and its concomitant effect on national unity and cohesion.

This was disclosed by the Minister of Information, Lai Mohammed, at the Town Hall Meeting in Kaduna on Thursday, themed “Setting Benchmarks for Enhanced Security and National Unity in Nigeria.”

What the Minister is saying

“The correct starting point towards addressing these myriads of problems is the building of an “elite consensus” on the security, unity, indissolubility, and peaceful existence of Nigeria.

“Such elite consensus had worked in the past. Can we make it work now and proffer solutions in order to stave off the threats to our unity as a nation?” he said.

The Minister disclosed that the meetings are necessary to bring all critical stakeholders together to deliberate on the issues and possibly reach a consensus on the way forward.

“We expect this Town Hall meeting to develop concrete, implementable resolutions because a lot of talks and postulations had taken place with little or no requisite outcome.”

In case you missed it 

  • Former Vice President, Atiku Abubakar warned that the rising insecurity in Nigeria is a result of rising youth unemployment. He urged Nigeria to tackle out-of-school children cases, pay a monthly stipend to poorer families, incorporate youths who are above school age into massive public works programmes and others.
  • Senator Ali Ndume insisted that the Federal Government needs to increase its total military spending to be able to tackle the rising insecurity in Nigeria which has seen a number of school students in 2021 kidnapped by bandits.

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Business

IMF lifts 2021 global GDP growth to 6%

The group also warned that economic recoveries are diverging dangerously across and within countries.

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Kristalina Georgieva, IMF boss hints at 'synchronized slowdown' in global growth , IMF: 40% of African countries can't pay back their debts , Nigeria worse off, posts grows lower than LIDC benchmark - IMF, Measures introduced by Nigeria to ensure transparent use of the $3.4b IMF loan

The International Monetary Fund has lifted its global growth outlook to 6% in 2021 (0.5% point upgrade) and 4.4% in 2022 (0.2 percentage point upgrade), after an estimated historic contraction of -3.3% in 2020 due to the effects of the COVID-19 pandemic. This disclosure was made on the organisation’s website on Tuesday.

The group also warned that economic recoveries are diverging dangerously across and within countries, as economies with slower vaccine rollout, more limited policy support, and more reliance on tourism do less well.

READ: Corruption erodes the constituency for aid programmes and humanitarian relief – IMF

What the IMF is saying

“The upgrades in global growth for 2021 and 2022 are mainly due to upgrades for advanced economies, particularly to a sizeable upgrade for the United States (1.3 percentage points) that is expected to grow at 6.4 percent this year.

This makes the United States the only large economy projected to surpass the level of GDP it was forecast to have in 2022 in the absence of this pandemic.

China is projected to grow this year at 8.4 percent. While China’s economy had already returned to pre-pandemic GDP in 2020, many other countries are not expected to do so until 2023.”

READ: Nigeria needs structural and monetary policy reforms to unlock potential – IMF

On divergent recoveries 

The IMF stated that divergent recovery paths are likely to create wider gaps in living standards across countries compared to pre-pandemic expectations.

Sigma Pensions

“The average annual loss in per capita GDP over 2020–24, relative to pre-pandemic forecasts, is projected to be 5.7 percent in low-income countries and 4.7 percent in emerging markets, while in advanced economies the losses are expected to be smaller at 2.3 percent,” they said.

“Faster progress with vaccinations can uplift the forecast, while a more prolonged pandemic with virus variants that evade vaccines can lead to a sharp downgrade. Multispeed recoveries could pose financial risks if interest rates in the United States rise further in unexpected ways.

For Africa, IMF forecasts economic growth of 3.4% in 2021 and 4% by 2022, Nigeria is expected to grow by 2.5% in 2021 and 2.3% by 2022, while South Africa is projected to hit growths of 3.1% and 2.0% for the respective years in focus.

READ: The 4th industrial revolution and the birth of a new international monetary system

In case you missed it 

The International Monetary Fund (IMF)  identified some factors that hamper the economic recovery of low-income countries from the devastating impact of the coronavirus pandemic, factors including access to vaccines, limited policy space to respond to the crisis, the lack of means for extra spending, pre-existing vulnerabilities such as high levels of public debt in many low-income countries and sometimes weak, negative, total factor productivity performance in some low-income countries. These factors continue to act as a drag on growth.

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