Africa wants IMF, World Bank and EU support on debt relief – UNECA

Africa wants IMF, World Bank and EU support on debt relief – UNECA
Africa wants IMF, World Bank and EU support on debt relief – UNECA

African finance ministers want International Monetary Fund, World Bank and European Unions support for bilateral, multilateral and commercial debt relief, according to a statement from the UN Economic Commission for Africa.

The ministers, who met via video conference on Tuesday, said development partners should consider debt relief and interest rate forbearance over a two to three-year period to aid Africa’s coronavirus response.

They also called for the creation of a special purpose vehicle to “deal with all sovereign debt obligations” though no further details were given as to what shape this SVP would take.

Africa wants IMF, World Bank and EU support on debt relief – UNECA

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