“We have to expand the fiscal space for African countries. Secondly, we must tackle the whole issue of debt: you cannot run up a hill while carrying a backpack of sand on your back' - AfDB_Group's akin_adesina. Africa Covid19
African nations need $424 billion this year to help them cope with the devastation caused by the coronavirus pandemic, according to the head of the continent’s top multilateral lender. After decades of progress in the continent’s fight against poverty, Covid-19 plunged 30 million Africans into “extreme poverty” in 2020. Meanwhile, Russia’s war on Ukraine has fueled inflation and left millions hungry.
Global food prices surged to a record after Russia’s Feb. 24 invasion disrupted exports of grain and vegetable oil. That’s exacerbated a hunger crisis affecting countries including Ethiopia, Kenya and Somalia. Africa depends on Russia and Ukraine for about 41% of it’s wheat and maize, Adesina said. The AfDB’s $1.
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