'New deal' hopes for Africa as Paris summit tackles finance gap

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The summit brings together African leaders and global financial institutions seeking to provide Africa with critical financing.

France's President Emmanuel Macron welcomes South Africa's President Cyril Ramaphosa upon his arrival for a dinner at the Elysee Presidential Palace in Paris.on Tuesday, with the boss of the African Union hailing the talks as a potential"new deal" for the continent.

Africa has so far been less badly hit by the pandemic than other regions -- with a total of 130,000 dead compared with 3.4 million worldwide. "We will see to what extent we can raise funds to save Africa," said Tshisekedi, adding that the pandemic"left our economies drained because we have had to spend all the little resources we had to fight the disease".

"It is a very important moment, we gather here to reverse a process of a very dangerous divergence between advanced economies and developing countries, especially Africa," said IMF chief Kristalina Georgieva in opening comments.She warned that African economic growth would reach just 3.2 percent this year, far behind the rest of the world's projected six percent.

 

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