Africa needs more than $200 billion to respond to pandemic, UN chief says
April 17 2020 06:07 PM
United Nations Secretary General Antonio Guterres speaks during a press briefing at United Nations H
United Nations Secretary General Antonio Guterres speaks during a press briefing at United Nations Headquarters on February 4, 2020 in New York City

Reuters/Washington

United Nations Secretary-General Antonio Guterres on Friday urged creditors to grant a debt standstill for all developing countries, not just the poorest, warning that many faced debt distress due to a global recession triggered by the coronavirus pandemic.
Guterres told a virtual conference on Africa hosted by the World Bank and International Monetary Fund that the continent needed more than $200 billion to respond to the pandemic and mitigate its economic impact.
To mobilize more resources, he said the IMF should allocate new Special Drawing Rights (SDRs), a step that has been opposed by the United States. An SDR allocation is akin to a central bank "printing" new money. 



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