This is what Africa needs to recover well from Covid-19 disaster
The IMF says ‘policy-induced distortions that stymie private investment’ must be eliminated and public finance management systems must be improved
Sub-Saharan Africa will need hundreds of billions of dollars and reforms that bring change for a resilient recovery from the damage wrought by the coronavirus pandemic, according to the International Monetary Fund (IMF).
Support from the international community that includes stepped-up debt relief, financing and capacity development will be needed, MD Kristalina Georgieva and Abebe Aemro Selassie, the director of the lender’s Africa department, said on Tuesday in a blog post. The IMF has approved more than $15bn in financial assistance and debt-service relief to Sub-Saharan African countries to offset the effects of the pandemic and “certainly will be doing more in the years ahead”, they said...