Overcoming Data Sparsity A Machine Learning Approach To Track The Real Time Impact Of Covid 19 In Sub Saharan Africa
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Overcoming Data Sparsity: A Machine Learning Approach to Track the Real-Time Impact of COVID-19 in Sub-Saharan Africa
Author: Karim Barhoumi
language: en
Publisher: International Monetary Fund
Release Date: 2022-05-06
The COVID-19 crisis has had a tremendous economic impact for all countries. Yet, assessing the full impact of the crisis has been frequently hampered by the delayed publication of official GDP statistics in several emerging market and developing economies. This paper outlines a machine-learning framework that helps track economic activity in real time for these economies. As illustrative examples, the framework is applied to selected sub-Saharan African economies. The framework is able to provide timely information on economic activity more swiftly than official statistics.
Regional Economic Outlook, Sub-Saharan Africa, October 2023
Author: International Monetary
language: en
Publisher: International Monetary Fund
Release Date: 2023-10-10
Still emerging from the COVID-19 pandemic, countries in sub-Saharan Africa have been hit by a sluggish global economy, worldwide inflation, high borrowing costs, and a cost-of-living crisis. In many cases, inflation is still too high, borrowing costs are still elevated, exchange-rate pressures persist, and political instability is an ongoing concern. To ensure that the coming rebound is more than just a transitory glimpse of sunshine, it is important for authorities to guard against a premature relaxation of stabilization policies, while also focusing on reforms to both claw back lost ground from the four-year crisis and also to create new space to address the region’s pressing development needs.
Regional Economic Outlook, Sub-Saharan Africa, April 2025
Author: International Monetary Fund. African Dept.
language: en
Publisher: International Monetary Fund
Release Date: 2025-04-25
A hard-won recovery in sub-Saharan Africa has been overtaken by recent events. The sudden shift in the global outlook has clouded the region’s short-term prospects and significantly compli¬cated policy making. After four years of crisis, sub-Saharan Africa’s authorities had already faced a significant challenge in their efforts to deliver economic stability while also advancing long-term devel¬opment goals, all amid high social expectations. This task has now been made even more difficult by yet another shock, in the form of higher global borrowing costs, additional constraints on external funding, a downturn in global demand, lower prices for some key commodities, and a step increase in economic uncertainty. An extra premium is now on resilience—a country’s ability to rebound quickly from future shocks. The region’s progress and perseverance over the past few years is notable, but continued efforts will be needed to sustain the recovery and enhance the region’s resilience. Caution, consistency, and credibility are now more important than ever.