Africa needs funding to fight pandemic, says IMF

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African countries need $ 1.2 trillion in funding by 2023 to overcome the crisis caused by the covid-19 pandemic, the managing director of the International Monetary Fund (IMF) said on Friday (9), noting that the The current deficit is close to US $ 345 billion.

The region faces a lack of financing, as bilateral loans from official agents and international institutions cover less than a quarter of the expected needs, while private capital remains limited, explained Kristalina Goergieva, speaking during a virtual event on the African continent.

In April, the IMF estimated the financing deficit at $ 44 billion for 2020 alone.

It is imperative that all countries and institutions are more mobilized to help Africa face the crisis, added the head of the Washington-based institution.

According to her, the pandemic will not stop if it is not contained in regions like Africa.

The continent has recorded more than one million cases of covid-19 and 23,000 deaths from the disease, the IMF said.

Source: Uol

African countries need $ 1.2 trillion in funding by 2023 to overcome the crisis caused by the covid-19 pandemic, the managing director of the International Monetary Fund (IMF) said on Friday (9), noting that the The current deficit is close to US $ 345 billion.

The region faces a lack of financing, as bilateral loans from official agents and international institutions cover less than a quarter of the expected needs, while private capital remains limited, explained Kristalina Goergieva, speaking during a virtual event on the African continent.

In April, the IMF estimated the financing deficit at $ 44 billion for 2020 alone.

It is imperative that all countries and institutions are more mobilized to help Africa face the crisis, added the head of the Washington-based institution.

According to her, the pandemic will not stop if it is not contained in regions like Africa.

The continent has recorded more than one million cases of covid-19 and 23,000 deaths from the disease, the IMF said.

Source: Uol

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