The report was released via video conference on Monday, April 11, at the World Bank Country Office in the Monrovia suburb of Congo Town by the World Bank from its headquarters in Washington DC.
According to the report, the vulnerable group of countries’ terms-of-trade are expected to further decline below the already 10 percent decline to another 10 percent or more in the years ahead if needed measures are not taken to avert the situation.
The group comprises some oil rich countries, while others rely on natural gas and their weak iron ore and rubber trades.
It attributed the drop in percentage to price decline in imports and exports internationally of their economic commodities.
The report quotes the WB Team Leader and acting Chief Economist Punam Chuhan-Pole as calling on the vulnerable countries to diversify their economies by venturing in other sectors that will help save their countries of future decline.
The Africa Pulse report is an initiative of the WB that twice per annum looks at the trends in the economy of sub-Sahara Africa with the aim of revealing to Africa and the world its economic capacity with needed recommendations to address situations should they exist.
The WB acting Chief Economist wants the region to venture into agriculture where she thinks economic viability is reliably stationed.
The report noted that the vulnerable countries house nearly 36 percent of the region’s population and represent about half of its economic activity on the continent.
“The value of commodity production in the vulnerable countries is expected to decline in 2016 and this will have direct growth effects,” the report noted.