Cote d’Ivoire 10th Economic Update : Cote d’Ivoire and the COVID-19 Pandemic
This report contributes to the growing body of knowledge by shedding light on the impact of COVID-19 and confinement measures on Ivoirian enterprises and households. It builds on two dedicated sets of survey data that were collected in April 2020,...
| Main Author: | |
|---|---|
| Format: | Report |
| Language: | English |
| Published: |
World Bank, Washington, DC
2020
|
| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/149401601444415154/Taking-Stock-and-Looking-Ahead-Cote-d-Ivoire-and-the-COVID-19-Pandemic http://hdl.handle.net/10986/34559 |
| Summary: | This report contributes to the growing
body of knowledge by shedding light on the impact of
COVID-19 and confinement measures on Ivoirian enterprises
and households. It builds on two dedicated sets of survey
data that were collected in April 2020, at the height of the
local confinement measures. The report also presents a set
of policy recommendations, building on the government’s
response plan and how it addresses the triple challenge of
saving lives, protecting livelihoods and protecting the
future. Specifically, it tries to highlight responses
measures that could also contribute to boosting recovery and
support the country’s return to strong growth. The report
begins in Part one with a presentation of the country’s
progress in 2019, recent developments in 2020 and the
macroeconomic outlook. Thanks to strong economic growth and
sound macroeconomic policies, Cote d’Ivoire entered the
crisis from a position of strength. However, the global
recession and uncertain evolution of the domestic outbreak
pose significant downside risks. Part two is then dedicated
to a diagnostic of COVID 19’s impact on enterprises and
households. The new survey data suggests that enterprises
across all sectors felt the crisis impact, in terms of
closures, sales, disruptions in logistics and access to
inputs. Smaller enterprises with less buffers to withstand
shocks were more severely impacted than larger ones.
Households likewise reported much reduced working hours and
a significant drop in incomes, salaries or revenues, while
being (temporarily) hit with higher prices for food. Taken
together, the survey data suggests that a severe shock for
consumption and demand will become visible and tangible in
the next months, even as the overall situation appears to
have stabilized. |
|---|