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Leveling the Financial Playing Field for Africa

Leveling the Financial Playing Field for Africa

  • The long-term effects of Covid-19 and the climate crisis are felt more acutely in Africa than elsewhere.
  • Africa’s additional financing needs resulting from the pandemic will amount to $285 billion over the four years ending 2025.
  • Sub-Saharan Africa endured a recession in 2020 for the first time in 25 years.

NEW YORK – Africa bears virtually no responsibility for the greenhouse-gas emissions driving the climate crisis. It is not responsible for the conflicts or supply-chain disruptions that have driven global inflation. Nor did it trigger the spread of COVID-19, let alone cause the pandemic’s economic fallout. And yet the long-term effects of this trio of crises linger perhaps more acutely in Africa than elsewhere.

Africa grappling with anemic economic growth

The International Monetary Fund has estimated that Africa’s additional financing needs resulting from the pandemic will amount to $285 billion over the four years ending in 2025. But inflation, exchange-rate …

The post Leveling the Financial Playing Field for Africa appeared first on The Exchange.

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