Breaking News

Breaking: African countries ask for Moratorium extension ‘until 2021’

Last updated on September 11th, 2021 at 08:22 am

African nations came out swinging during the United Nations General Assembly,// calling for dramatic fiscal measures, in order to help economies survive the impact of the coronavirus pandemic.

African countries estimate they need an annually support of $100 billion for the next three years, pointing out it is only a fraction of the trillions of dollars, some richer countries are using to revive their economies.

They have also asked that the current mortorium in effect be further extended.

Several countries have said maintaining the debt moratorium until 2021 was necessary, claiming debt cancellation is needed to free up more resources to tackle the virus and its effects, which includes the fight against other deadly diseases like malaria and HIV/AIDS.

Alongside Senegal, Niger and Côte d’Ivoire also expressed their concerns. Ivory Coast President Ouattara stated that the fight against COVID-19 and its economic effects has represented around 5% of the West African country’s GDP.

One of the world’s fastest-growing economies before the pandemic, Ivory Coast hopes to obtain further international support to get its economy back on track.

(AFP)

Albert Echetah

Recent Posts

UAE Crown Prince Arrives in Ethiopia for WorldWithout Hunger Conference

The UAE’s Crown Prince of Abu Dhabi, His Highness Sheikh Khaled bin Mohamed bin Zayed AlNahyan was in Addis Ababa…

November 5, 2024

Zimbabwe’s rich (Mbingas) linked to state looting

Gilbert Machokoto, a former teacher, said that setting up a business in the late 1980s, shortlyafter Zimbabwe's independence, was ‘like…

November 4, 2024

Historic Shift in Botswana as PresidentConcedes to Opposition Victory

Following elections in which the party that had ruled the diamond-rich nation for almost 60years suffered a historic setback. Botswana's…

November 4, 2024

Lightning Strike at Uganda Refugee CampClaims 14 Lives, Including Children

A lightning strike at a refugee camp in Uganda kills 14 people including children with 34 othershospitalized. The incident happened…

November 4, 2024

From television hopeful to red carpet royalty: Kuhle Adams’ journey frompresenter to South Africa’s biggest awards

From TV hopeful to red carpet royalty, Kuhle Adams' journey is a remarkable story of talentand perseverance. Beginning as an…

November 3, 2024

Breaking Barriers: Kenya’s First FemaleCoach in Men’s Premier League MakesHistory

A new dawn in African football dawns as Jackline Juma is set to become the firstwoman to coach a men’s…

November 3, 2024

This website uses cookies.