A socially oriented non-financial development institution and a major organizer of international conventions, congress, exhibitions, business, social and sporting, public, and cultural events.

The Roscongress Foundation is a socially oriented non-financial development institution and a major organizer of international conventions; exhibitions; and business, public, sporting, and cultural events. It was established in pursuance of a decision by the President of the Russian Federation.

The Foundation was established in 2007 with the aim of facilitating the development of Russia’s economic potential, promoting its national interests, and strengthening the country’s image. One of the roles of the Foundation is to comprehensively evaluate, analyse, and cover issues on the Russian and global economic agendas. It also offers administrative services, provides promotional support for business projects and attracting investment, and helps foster social entrepreneurship and charitable initiatives.

Each year, the Foundation’s events draw participants from 208 countries and territories, with more than 15,000 media representatives working on-site at Roscongress’ various venues. The Foundation benefits from analytical and professional expertise provided by 5000 people working in Russia and abroad. In addition, it works in close cooperation with 160 economic partners; industrialists’ and entrepreneurs’ unions; and financial, trade, and business associations from 75 countries worldwide.

The Roscongress Foundation has Telegram channels in Russian (t.me/Roscongress), English (t.me/RoscongressDirect), and Spanish (t.me/RoscongressEsp). Official website and Information and Analytical System of the Roscongress Foundation: roscongress.org.

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Review of studies conducted by McKinsey and the World Bank

A review of studies conducted by McKinsey and the World Bank examines the economic impact of the pandemic on African economies and possible scenarios for the development of the economic crisis.

The factors that are set to have the biggest impact on the African economy are disruptions in global supply chains, a decline in demand for a wide range of African exports, a delay or significant reduction in foreign direct investment, and a collapse in oil and other commodity prices.

McKinsey analysts modeled four scenarios of how the prevalence of COVID-19 will impact African economic growth. Even in the most optimistic scenario, GDP growth in Africa will drop to 0.4% in 2020, and this scenario looks less likely every day. In all other scenarios, analysts predict that in 2020 Africa will experience an economic downturn, with GDP growth declining by 5-8 percentage points. Experts from the World Bank share the pessimism of their colleagues and predict that the continent will experience its first recession in 25 years.

The studies also provided proposed anti-crisis measures that African countries are recommended to pay priority attention to.

You can find the full text of the material:

  1. https://openknowledge.worldbank.org/handle/10986/33541

  2. https://www.mckinsey.com/~/media/McKinsey/Featured%20Insights/Middle%20East%20and%20Africa/Tackling%...

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