France Supports Debt Moratorium As Continental Recession Looms

Researchers at the African Union believe the continent will slip into a recession this year due to a huge fall in global oil prices and the impact the novel coronavirus pandemic has on trade, remittances and tourism. Analysts say that African finance ministers need to convince institutions such as the IMF and World Bank to suspend, or even cancel, some of the continent's debt load. The continent's finance ministers have called for debt relief and the "urgent and immediate release of the US$100 billion" - a debt relief call with which French Finance Minister Bruno Le Maire is in agreement.

A resident of Mamelodi in South Africa during the COVID-19 lockdown.


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