COVID-19 Response: “Africa needs additional $285billion through 2025”- IMF

The International Monetary Fund (IMF) says that Africa needs additional financing of around $285billion for COVID response through 2025.

Ms Kristalina Georgieva, Managing Director of the IMF, said this at the just concluded 2021 African Finance Summit hosted in Paris by the French President Emmanuel Macron.

According to Georgieva, “Africa this year is expected to grow only 3.2% ; the rest of the world 6%.

“We have to boost growth, public and private investment in Africa by mobilizing financing from international organizations, from bilateral donors, and of course, from countries themselves.”

Our new estimate is that Africa needs additional financing of around $285 billion for COVID response through 2025. @KGeorgieva outlined the need for urgent actions to help Africa get back on track at today's Africa Finance Summit hosted by @EmmanuelMacron. https://t.co/1A7g2aNpfw pic.twitter.com/5Dll9AFaD7

— IMF (@IMFNews) May 18, 2021

Amaka E. Nliam