LEADERS conclude that impoverished African economies must not be left behind in the post-pandemic economic recovery.
French President Emmanuel Macron said on Tuesday, May 18, a summit in Paris on Africa financing had agreed to work towards persuading rich nations by October to reallocate $100 billion in International Monetary Fund (IMF) special drawing rights monetary reserves to African states.
Impoverished African economies must not be left behind in the post-pandemic economic recovery and a substantial financial package is needed to provide much-needed economic stimulus, African and European leaders concluded at a summit in Paris.
In the immediate term, that meant accelerating the COVID-19 vaccine rollout and creating the fiscal breathing room for African nations, which will face a spending shortfall of some $285 billion over the next two years, the summit communique showed.
The communique set out a two-pronged response based on addressing financing needs to support a sustainable, green
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