COVID-19: Forgive Africa's debt, give continent $150bn for health financing – Ethiopia to G20

Ethiopia is seeking debt relief and emergency budgetary support for African countries to boost their response to the coronavirus outbreak.
In its three-point submission to the G20 group of countries, the Horn of Africa nation proposes a $150bn (£130bn) emergency health financing and budgetary support from the World Bank.
Ethiopia is also looking for support to the World Health Organization (WHO) to strengthen public health delivery and emergency preparedness in Africa.
The G20 is an annual forum of leaders from the countries with the largest and fastest-growing economies, whose members account for 85% of the world's GDP, and two-thirds of its population.
The G20 leaders are expected to meet in a virtual summit later this week.
In seeking debt relief, Ethiopia says Africa’s ability to cushion its firms and workers from the impact of the pandemic is contained by its debt burden.
"Ethiopia proposes all interest payment to government loans should be written off. In addition, Ethiopia proposes part of the debt of low-income countries should be written off," says the statement from the government.
Source: BBC
Trending Business
DVLA CEO pays surprise visit to Plaspack PVTS, announces plans for new ultra centre in La
08:35Finance Minister engages IFC to boost Ghana’s agricultural transformation
06:18Asiedu Nketia pledges commitment to Keta Port Project
14:08ECG saves $300 million after review of non-performing contracts– Energy Minister
12:49E&P finalises settlement with Azumah Australia, concludes ownership dispute
06:55Parliamentary Select Committee on Labour commends industries for job creation
13:52Ghana, Brazil deepen agricultural cooperation as Ambassador Namoale courts investment for livestock sector
17:24GoldBod generated over US$8 billion from small-scale gold exports
12:58GCAA Ag. DG brokers internship deal with Qatar Civil Aviation Authority
11:25YEA opens work abroad opportunities for skilled professionals in Saudi Arabia
15:44