SOUTH African President Cyril Ramaphosa on Saturday appealed to the Group of Twenty (G20) to help Africa confront the financial and economic aftermath of the COVID-19 pandemic.
Ramaphosa made the plea in his statement at the first session of the virtual G20 Leaders’ Summit on overcoming the pandemic and restoring growth and jobs.
“Many of the hardest hit economies are in Africa,” he noted. “Economic activity on the continent is expected to contract by 3.2 per cent in 2020, with the region falling into a recession for the first time in 25 years.”
“We call on the G20 member states to use all of their persuasive powers, individually and collectively, to convince all creditor countries, the multilateral development banks, the credit rating agencies and the private sector to continue to work with us to address the problem of burgeoning and unsustainable developing country debt,” he added.
The G20 is the
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