Here is why you should pick up a copy of The Guardian on Wednesday. Find these stories and much more when you grab a copy of The Guardian on the newsstands on Wednesday.
Africa's largest economy Nigeria is expected to fall into a recession by the third quarter according to the budget office. More recent statistics from the National Bureau of Statistics also show a 78.6 per cent slump in total capital imported in the second quarter. Reopening Nigeria's economy is vital for any recovery effort. Tilewa Adebajo, CEO of CFG Advisory joins CNBC Africa’s Christy Cole to discuss the ideal path to recovery.
The International Monetary Fund has warned the world is facing the worst recession since the Great Depression of the 1930s. The global economy has changed dramatically in the past 90 years, so what does a deep recession look like in 2020? Policymakers are doing their best to limit the impact of lockdown measures, but when can a recovery start, and what state will the economy be in a year from now? We speak to Ludovic Subran, Chief Economist at Allianz & Euler Hermes.
The French economy has officially fallen into recession, after a record contraction of 5.8 percent in the first three months of the year. The drop in quarterly economic output is the worst since records began in 1949. The national statistics agency Insee also reported that consumer spending plunged by almost 18 percent in March, while business investment and output from the construction and manufacturing industries also fell. The pandemic has hit economies across Europe, with new figures showing the eurozone registered a record drop in growth of 3.8 percent in the first quarter.