Post-COVID-19 Recovery: IMF Reassures Int’l Community’s Support For Nigeria, Others

Ms Kristalina Georgieva, has reassured that the international community can help strengthen economies in Africa.Georgieva gave the assurance at a high level knowledge event of the 2021 annual meetings of the African Development Bank .

The virtual AfDB 2021 annual meetings, began on Wednesday with the theme: “Building Resilient Economies in Post Covid-19 Africa”. She explained that the best way to deal with debt is for economies to grow, a not-so-easy task during the pandemic, when governments faced reduced revenues and increased spending on crisis measures.

The losses suffered by the global economy notwithstanding, she maintained that the crisis was an opportunity for transformative reforms to improve public services, strengthen governance and boost domestic revenue mobilisation. “Think of how digitalisation can improve tax administration and revenue collection and the quality of public spending. With radical transparency, Africa can tap into new sources of finance, such as carbon offsets and there is room to encourage more private investment in social and physical infrastructure.

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