By AARON CHIYANZOTHE African Union Bureau of Heads of States has called on creditor nations and multilateral institutions to immediately suspend interest payments for Africa on its external public and private debt to enable countries create fiscal space to respond to the devastating effects of COVID-19 pandemic.They also called on the World Bank and International Monetary Fund (IMF) to review their current disbursement policies to display flexibility and speed including raising the availability of the IMF special drawing rights (SDR).The bureau comprises leaders from South Africa, Egypt, Congo DRC, Kenya and Mali.Zambia’s Ambassador to Ethiopia and Permanent Representative to the African Union, Emmanuel Mwamba stated that the Communique of the leaders of the AU Bureau was issued after they held the latest tele-conferencing meeting on April 3rd 2020 to discuss Africa’s response to the COVID-19 pandemic.Mr Mwamba said the leaders called for a comprehensive stimulus package for Africa and for concrete support as pledged by […]
‘Suspend interest payments for African Countries’
