UN chief calls for debt relief, post-COVID investment on W. Africa trip

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Public debt ratios in sub-Saharan Africa are at their highest in more than two decades, the IMF said last week.

The United Nations chief spoke in Senegal on the first leg of a trip that will also include Niger and Nigeria, where he will visit communities affected by conflict and climate change.

The coronavirus pandemic pushed many poor countries into debt distress and the Ukraine war has disrupted their economic recovery, according to the International Monetary Fund . The United Nations has made proposals to the World Bank and the IMF regarding the mobilization of various funds and debt relief instruments, but so far the measures taken have been insufficient, he added.

"Beyond vaccination, we see big imbalances when it comes to investments in post-COVID recovery," he said, adding that economic growth per capita is projected to be 75% lower in Africa than in the rest of the world over the next five years.

 

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