JOHANNESBURG - Wealthy countries are failing Africa, with pledges of financial support and debt relief falling well short of the continent’s needs as it battles the COVID-19 pandemic, several African
presidents said on Tuesday.
“We’re not in a position to protect companies, to preserve jobs. There’s an injustice that is again being exposed by COVID-19,” Senegal’s President Macky Sall said during a virtual roundtable organised by the New York Forum Institute think-tank. Africa has called for a $100 billion stimulus package from wealthy nations, forgiveness of bilateral debt, and a suspension of private debt service.
Last month, the Group of 20 wealthy economies backed an IMF and World Bank call for a suspension of bilateral debt service for the world’s poorest countries.
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