{"id":96319,"date":"2020-10-12T10:52:37","date_gmt":"2020-10-12T02:52:37","guid":{"rendered":"http:\/\/www.namnewsnetwork.org\/?p=96319"},"modified":"2020-10-12T10:52:39","modified_gmt":"2020-10-12T02:52:39","slug":"covid-19-africa-needs-1-2tn-to-recover-coronavirus-losses","status":"publish","type":"post","link":"http:\/\/namnewsnetwork.org\/?p=96319","title":{"rendered":"Covid-19: Africa &#8216;needs $1.2tn&#8217; to recover coronavirus losses"},"content":{"rendered":"\n<figure class=\"wp-block-image alignwide\"><a href=\"https:\/\/www.ghanaweb.com\/GhanaHomePage\/africa\/Africa-needs-1-2tn-to-recover-coronavirus-losses-1081801?gallery=1\"><img src=\"https:\/\/cdn.ghanaweb.com\/imagelib\/pics\/711\/71126338.295.jpg\" alt=\"Africa has not been too badly hit in health terms, but the economy has suffered\"\/><\/a><\/figure>\n\n\n\n<p style=\"text-align:center\"><strong><em>Africa has not been too badly hit in health terms, but the economy has suffered<\/em><\/strong><\/p>\n\n\n\n<p>WASHINGTON, Oct 12 (NNN-AGENCIES) &#8212; The economic damage as well as the health costs caused by coronavirus has left Africa needing $1.2tn over the next three years, the International Monetary Fund has said.<\/p>\n\n\n\n<p>IMF chief Kristalina Georgieva said the world &#8220;must do more to support Africa to [recover]&#8230; from this crisis&#8221;.<\/p>\n\n\n\n<p>Africa has had fewer Covid infections and deaths than most other continents.<\/p>\n\n\n\n<p>But the World Bank says 43 million more Africans are at risk of extreme poverty as a result of the pandemic.<\/p>\n\n\n\n<p>The economic impact is reversing the trend in recent years of strong growth in Africa, as jobs have been lost and family incomes have been reduced by 12%, Georgieva told a virtual IMF meeting.<\/p>\n\n\n\n<p>The IMF has given African countries about $26bn to cushion the impact but even with the help of private lenders and other countries&#8217; assistance there is still a huge shortfall in funding.<\/p>\n\n\n\n<p>&#8220;Some countries are confronting high debt burdens forcing them to choose between debt service and additional social and health spending,&#8221; the IMF chief said.<\/p>\n\n\n\n<p>As a means to help, she called for an extension of the moratorium by the G20 of debt repayments and wanted more funds to be available to lend.<\/p>\n\n\n\n<p>There have been more than 1.5 million confirmed coronavirus cases in Africa and nearly 37,000 people have died. &#8212; NNN-AGENCIES<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa has not been too badly hit in health terms, but the economy has suffered WASHINGTON, Oct 12 (NNN-AGENCIES) &#8212; The economic damage as well as the health costs caused by coronavirus has left Africa needing $1.2tn over the next three years, the International Monetary Fund has said. IMF chief Kristalina Georgieva said the world [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":96320,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[213],"tags":[],"_links":{"self":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/96319"}],"collection":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=96319"}],"version-history":[{"count":0,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/96319\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/media\/96320"}],"wp:attachment":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=96319"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=96319"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=96319"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}