Is it time for African nations to default on their debt to free-up resources for coronavirus battle?
from foreign donors to help mitigate the fallout of the coronavirus pandemic that could cost millions of people to lose their jobs.
In just 12 days, the number of infected people rose from 633 in 35 countries to 5,318 in 46 countries. More than 175 people have lost their lives with most of the cases being reported from Algeria, Egypt and South Africa. More than one-third of the $100 billion in funding that Africa wants will be spent on servicing the debt of the developing countries. This year, the continent is expected to pay $44 billion in interest payments to creditors, which include the IMF, World Bank, wealthy countries including China, and private investors.
Countries like Ghana, which heavily depend on the export of gold, oil and cocoa, are particularly at risk of a crisis as the price of commodities have plunged and the cost of dealing with the Covid-19 pandemic is rising. to give debt service relief amounting to $34 billion to 23 Heavily Indebted Poor Countries , 19 of which were in Africa. The initiative was meant to tackle poverty.
But this time, the United States and significant creditors in Europe could be hesitant to reach any restructuring settlement because of China’s growing role as a lender to developing countries.
日本 最新ニュース, 日本 見出し
Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。
Africa faces an 'existential threat' as virus cases spreadHealth officials plead for global solidarity for helping the poor continent at a time when even some of the world’s richest countries are scrambling for basic medical needs, including face masks.
続きを読む »
In Africa, Fierce Enforcement of Coronavirus Lockdowns Is Stirring ResentmentIn Africa, fierce enforcement of coronavirus lockdowns is stirring resentment among residents struggling to scrape together a living, hurting attempts to stem the pandemic’s advance
続きを読む »
South Africa gathered homeless people into a sports stadium. Here too, coronavirus divides rich from poorAt least 1,000 homeless men placed into a sports stadium in South Africa during coronavirus pandemic. 'They put us here and now we are close to one another. This is why we will be vulnerable to catching Corona. Our government has failed us.'
続きを読む »
Biotech Pioneer Amgen Joins Hunt for Coronavirus DrugBig biotech company Amgen is joining the race to discover new drugs that can treat the novel coronavirus, the latest drugmaker redirecting resources toward the pandemic.
続きを読む »
National Stockpile Of Emergency Equipment Nearly Gone, According To Report“It was never built or designed to fight a 50-state pandemic,” an official said.
続きを読む »
Jeff Bezos Donates $100 Million to Help Nation's Food BanksJeff Bezos is making a huge donation to help families in need of food during the coronavirus pandemic.
続きを読む »