Africa fighting competing interests in funding quest
IMF Managing Director Kristalina Georgieva, French President Emmanuel Macron, DR Congo President Felix Tshisekedi and Senegal President Macky Sall after a joint press conference following the Summit on the Financing of African Economies in Paris in May. PHOTO | AFP
Africa’s economic managers are staring at a bleak future as they try to mobilise funds to buy vaccines and increase government spending that is needed to reduce poverty and mitigate the economic shocks caused by the coronavirus pandemic.
This week, African Finance ministers pleaded with international lenders including the International Monetary Fund to do more to mobilise concessional financing with longer maturity terms to help countries recover faster as the continent grapples with a recession.
