South Africa's Ramaphosa says access to concessional loans key to Africa's recovery

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South African President Cyril Ramaphosa tells the African Union that more needs to be done despite the deployment of significant financial resources for COVID-19 response.

have deployed significant financial resources for the coronavirus outbreak response, more needed to be done.

"An injection of fresh resources by the IMF through reallocating and issuing new special drawing rights, with bias to the developing world, will correct the glaring inequality in fiscal stimulus measures between advanced economies and the rest of the world." Among a population of 1.3 billion, Africa has so far reported more than 3.6 million coronavirus infections and over 94,000 deaths, according to a Reuters tally. South Africa has recorded the most infections of any African nation.

 

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