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  • COVID-19 has reversed the fortunes of many economies around the world.
  • IMF revised its 2020 global economic growth forecast to -4.9% on account of foreseen economic disruptions around the world.
  • Economic disruptions are expected to affect the tourism and travel industry, manufacturing output, trade activities as well as dampen demand for goods in general.

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Financial inclusion means that individuals and businesses have access to useful and affordable financial products and services that meet their needs – transactions, payments, savings, credit and insurance – delivered in a responsible and sustainable way.

The 2015 Finscope Report indicates that financial inclusion is significantly skewed towards urban areas at 70.3% of adults financially included, compared to rural areas that experience lower levels of financial inclusion at 50.2%.

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