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Wuhanvirus: Senegal President Pushes For Relieve Of African Debt!

As Africa continues to battle the outbreak of the Wuhan virus, Senegal president, Macky Sall, has asked G20 states to relieve the African debt. 

He made this known while addressing a crowd of businessmen during a visit to the French Entrepreneurs’ Conference. President Sall pleaded for the moratorium on Africa’s debt to be extended until next year. 

“For the most part, and for all African countries, internal efforts will not be enough to lessen the shock of Covid and revive economic growth,” Sall said. 

“We need more financial capacity, which is why, with other colleagues, I have made a plea for substantial relief of Africa’s public debt and private debt on terms to be agreed upon.” 

Citing an important example, he said the rule is that debt cannot exceed 3% of GDP, which has been suspended for G20 countries during the crisis. 

The African debt is worth three hundred and sixty-five million dollars. The figure places African global debt at 2%.

NEWS/PHOTO SOURCE: Africanews

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