Frankfurt — The European Central Bank rolled out yet more stimulus measures on Thursday to lift the currency bloc out of a double-dip recession and provide support to the economy while its 350-million people wait for coronavirus vaccines to be deployed.
“Incoming data and our staff projections suggest a more pronounced near-term impact of the pandemic on the economy and a more protracted weakness in inflation than previously envisaged,” she told a news conference. Lagarde expressed the hope that, by the end of 2021, mass coronavirus vaccination will have created sufficient immunity for the region’s huge services sector to get back to some level of normality, but added a note of caution. “Uncertainty remains high,” she said. “We continue to stand ready to adjust all our instruments as appropriate.”
Aiming to give banks ample liquidity, the ECB will also hold three additional tenders for three-year loans with the last one now scheduled for December 2021, it said.
Africa will be severely affected no enough fiscal space to fund health care and boost economy.