Is the health and economic crisis that has been shaking the world for the past year no longer relevant in Benin and Africa?
Far from any irony, the question deserves a small reflection.
The announcement of a 95% and 94.5% effective vaccine by Pfizer and Moderna (Bloomberg), respectively, has caused a wave of optimism in the international financial markets, a much-needed boost to the markets in the face of uncertainty. This announcement also reinforced a relaxation already observed in the behavior of populations, particularly in the streets of Cotonou or Abidjan, as if the crisis is already far behind us.
However, the challenges have not changed and are perhaps still far from being fully met.
While most rich and advanced countries are reserving the first supplies of the vaccine, what about African countries ? Do countries in Africa that are already caught up in public debt repayment have the immediate resources to reserve and/or acquire vaccines to immunize the entire population in order to avoid a second wave (possibly) ? Has economic activity benefited sufficiently from stimulus measures for the return of sustainable and more inclusive economic growth ?
Until the answer is yes to all these concerns, the idea of an end to the crisis or crises, we would say, is false good news.
Stimulus policies must be maintained in order to build greater resilience. The resumption of real economic growth, for its part, requires a restructuring of the economic architecture of countries - by stimulating investment and private demand, and a policy of price stabilization. (see below an increase in inflation in Benin between January and May 2020, the wake of the first wave of covid-19).
Data : BCEAO
CJEA