UN chief calls for debt relief, post-Covid-19 investment on West Africa trip

  • 📰 SowetanLIVE
  • ⏱ Reading Time:
  • 36 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 63%

Malaysia News News

UN Secretary-General Antonio Guterres on Sunday urged debt relief for African countries and more investment to help their economies recover from the Covid-19 pandemic and weather the impacts of the Ukraine war.

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.

Supply disruptions due to Russia's invasion of Ukraine have caused simultaneous food, energy and finance crises in Africa and beyond, Guterres said. 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 . Public debt ratios in sub-Saharan Africa are at their highest in more than two decades, the IMF said last week.

"International financial institutions must urgently put in place debt relief measures by increasing liquidity and fiscal space, so that governments can avoid default and invest in social safety nets and sustainable development," Guterres said.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 13. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines