Africa needs two-year debt reprieve, not nine months, says Cyril Ramaphosa
The AU Commission chair has called for the allocation of more IMF special drawing rights to help central banks, the corporate sector and SMMEs
08 May 2020 - 17:20
President Cyril Ramaphosa said on Friday that African countries needed a two-year debt standstill due to the effect of the Covid-19 pandemic, longer than a moratorium agreed on by Group of 20 governments last month.
The World Bank and International Monetary Fund (IMF)-backed initiative to suspend bilateral debt service for some of the world's poorest countries is expected to free up billions of dollars to fight Covid-19...
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