February 6, 2021, the 34th African Union Summit was held in video format, and world leaders focused on the response to the novel coronavirus pandemic.
South African President Ramaphosa said on the same day that obtaining preferential loans is crucial to the recovery of Africa’s economy under the coronavirus pandemic.
“As African economies rebuild, the assessment of concessional financing will be crucial.”
Ramaphosa said, “The International Monetary Fund will correct the unequal policies adopted by developed economies and the rest of the world in fiscal stimulus by injecting new resources into developing countries through the reallocation and issuance of new special drawing rights (SDRs).”
According to Reuters on the 6th, Ramaphosa said at the summit that although the IMF and the World Bank have invested a lot of financial resources in responding to the coronavirus pandemic, much remains to be done.
According to the report, due to the negative impact of the coronavirus pandemic on the economy, the debt problem of some African countries has further deteriorated.
According to statistics, out of 1.3 billion people in Africa, more than 3.6 million have been diagnosed with the novel coronavirus and the death toll exceeds 94,000.
South Africa has the highest number of confirmed cases of COVID-19 among African countries.
Earlier, Ramaphosa said that the Coronavirus Vaccine Implementation Program (COVAX), established with the help of the World Health Organization and the Alliance for Vaccines (Gavi), has played an important role in helping low- and middle-income countries obtain a fair and equitable access to the coronavirus vaccine.
February 1, Ramaphosa said that the African Union had raised 1 billion doses of coronavirus vaccine, and member states are expected to vaccinate 60% of the population within three years.