This report discusses the global economy in 2016 and the consequences for Africa.

What a start it was to 2016. Stock market volatility in China, downward global equity markets, sinking commodity prices, contracting global trade, capital flight out of developing economies, declining values of emerging market currencies, ongoing conflict, collapsing states and the resultant refugee crisis in the Middle East, and the list goes on.

There has been a heightened sense of pessimism and systemic risk in the global economy in the first few weeks of the year. From a developed world view, the global recovery may be stalling. From an emerging markets one, it appears that we are descending back into crisis, this time not so much from a financial shock as a slow-motion structural decline.

Report by Deloitte