COVID-19: Africa needs $100bn economic stimulus — Finance Ministers

This is contained in a statement by Communication and Media Relations Department of the group, which was made available to theIt explained that it was part of the decisions of the African Finance Ministers who met on March 19, in a virtual conference to exchange ideas on the efforts of their respective governments in dealing with the social and economic impacts of COVID-19.

The ministers agreed on the need to consider waiving principal and interest and encourage the use of existing facilities in the World Bank, the International Monetary Fund , African Development Bank and other regional institutions for the fragile states. In other critical sectors including agriculture, imports and exports, pharmaceuticals and in banking, the finance ministers agreed that all interest and principal payments on corporate debt, leases, extended credit facilities, refinancing schemes and guarantee facilities should be used to waive, restructure and provide additional liquidity in 2020.

They will steal 3/4 of it

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