Debt, COVID-19 and Inclusive Growth for Sustainable Development in Sub-Saharan Africa

The socio-economic crisis associated with COVID-19 is threatening progress towards attaining sustainable development goals. In this regard, global GDP is to contract in 2020 by 5.2% as against 2.8% in SSA. In addition, as global recession is imminent, developing countries stand to accommodate about...

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Autor principal:	Bashir Olayinka Kolawole
Formato:	article
Lenguaje:	AR EN
Publicado:	Ziane Achour University of Djelfa 2021
Materias:	covid-19 debt employment inclusive growth sustainable development Social Sciences H Commerce HF1-6182
Acceso en línea:	https://doaj.org/article/1abcda9249fa4bc1976144392a8fd32a
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spelling	oai:doaj.org-article:1abcda9249fa4bc1976144392a8fd32a2021-12-02T19:02:19ZDebt, COVID-19 and Inclusive Growth for Sustainable Development in Sub-Saharan Africa2676-184X2710-885610.48100/merj.2021.161https://doaj.org/article/1abcda9249fa4bc1976144392a8fd32a2021-09-01T00:00:00Zhttps://mer-j.com/merj/index.php/merj/article/view/161https://doaj.org/toc/2676-184Xhttps://doaj.org/toc/2710-8856The socio-economic crisis associated with COVID-19 is threatening progress towards attaining sustainable development goals. In this regard, global GDP is to contract in 2020 by 5.2% as against 2.8% in SSA. In addition, as global recession is imminent, developing countries stand to accommodate about 60 million people into extreme poverty amid rising debt. However, as an indispensable requirement for sustainable development, United Nations and African Union resolve to eradicate extreme poverty through aspirations for inclusive growth by 2030 and 2063, respectively. It is on this background this paper examines the impact of debt and COVID-19, as well as the effectiveness of growth inclusiveness for sustainable development in SSA. Imperatively, using a panel of 43 countries over the period 2016-2019, it is established that the level of employment increases, just as life expectancy improves, in tandem with inclusive growth. Also, the timeline analysis of the COVID-19 period reveals that the unemployment rate, as well as public debt, is increasing substantially above the levels before the outbreak; thereby portending a setback on the gains so far achieved towards sustainable development in the region. As such, total debt cancellation is suggested along with more financial assistance to economies in the region.Bashir Olayinka KolawoleZiane Achour University of Djelfaarticlecovid-19debtemploymentinclusive growthsustainable developmentSocial SciencesHCommerceHF1-6182ARENمجلة بحوث الإدارة والاقتصاد, Vol 3, Iss 2, Pp 104-134 (2021)
institution	DOAJ
collection	DOAJ
language	AR EN
topic	covid-19 debt employment inclusive growth sustainable development Social Sciences H Commerce HF1-6182
spellingShingle	covid-19 debt employment inclusive growth sustainable development Social Sciences H Commerce HF1-6182 Bashir Olayinka Kolawole Debt, COVID-19 and Inclusive Growth for Sustainable Development in Sub-Saharan Africa
description	The socio-economic crisis associated with COVID-19 is threatening progress towards attaining sustainable development goals. In this regard, global GDP is to contract in 2020 by 5.2% as against 2.8% in SSA. In addition, as global recession is imminent, developing countries stand to accommodate about 60 million people into extreme poverty amid rising debt. However, as an indispensable requirement for sustainable development, United Nations and African Union resolve to eradicate extreme poverty through aspirations for inclusive growth by 2030 and 2063, respectively. It is on this background this paper examines the impact of debt and COVID-19, as well as the effectiveness of growth inclusiveness for sustainable development in SSA. Imperatively, using a panel of 43 countries over the period 2016-2019, it is established that the level of employment increases, just as life expectancy improves, in tandem with inclusive growth. Also, the timeline analysis of the COVID-19 period reveals that the unemployment rate, as well as public debt, is increasing substantially above the levels before the outbreak; thereby portending a setback on the gains so far achieved towards sustainable development in the region. As such, total debt cancellation is suggested along with more financial assistance to economies in the region.
format	article
author	Bashir Olayinka Kolawole
author_facet	Bashir Olayinka Kolawole
author_sort	Bashir Olayinka Kolawole
title	Debt, COVID-19 and Inclusive Growth for Sustainable Development in Sub-Saharan Africa
title_short	Debt, COVID-19 and Inclusive Growth for Sustainable Development in Sub-Saharan Africa
title_full	Debt, COVID-19 and Inclusive Growth for Sustainable Development in Sub-Saharan Africa
title_fullStr	Debt, COVID-19 and Inclusive Growth for Sustainable Development in Sub-Saharan Africa
title_full_unstemmed	Debt, COVID-19 and Inclusive Growth for Sustainable Development in Sub-Saharan Africa
title_sort	debt, covid-19 and inclusive growth for sustainable development in sub-saharan africa
publisher	Ziane Achour University of Djelfa
publishDate	2021
url	https://doaj.org/article/1abcda9249fa4bc1976144392a8fd32a
work_keys_str_mv	AT bashirolayinkakolawole debtcovid19andinclusivegrowthforsustainabledevelopmentinsubsaharanafrica
_version_	1718377251209216000

Debt, COVID-19 and Inclusive Growth for Sustainable Development in Sub-Saharan Africa

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