SOUTH African President Cyril Ramaphosa urged developed economies to aid Africa’s post-pandemic recovery by allocating more International Monetary Fund reserves to the continent.
Africa needs more than the $33bn that has been earmarked for the continent to support economies ravaged by the coronavirus, Ramaphosa said in an interview at the Qatar Economic Forum on Monday.
“We need more because our economies are going to need a lot of support and it is only fair,” he said.
“The continent has been growing by leaps and bounds and should receive that type of support because all of us must get out of this economic slump that has been brought on to us by Covid-19.”
The IMF is preparing to give its member countries the biggest resource injection in its history – $650bn – to boost global liquidity and help emerging and low-income nations deal with mounting debt and Covid-19.
French President Emmanuel
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