IMF says Africa needs $44bn in funding still to fight Covid-19
World Bank estimates suggest 26-million to 39-million more people at risk of extreme poverty in Sub-Saharan Africa alone
Of the more than $110bn (R1.85-trillion) in additional funding that Sub-Saharan Africa will need in 2020 to fight the coronavirus pandemic, $44bn has not been financed yet even after several countries have taken up emergency loans and debt-service relief initiatives, according to the International Monetary Fund (IMF).
The funding needs persist despite the IMF approving debt-service relief for 21 sub-Saharan African countries for an initial six-month phase ending mid-October and a Debt Service Suspension Initiative by the Group of 20 leading economies that waived up to $14bn in payments for the world’s poorest countries — most of them in Africa — until December, the lender said Monday in a regional economic outlook update...
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