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Coronavirus May Weigh on African Economies for Three Years

Bloomberg business news

March 24: IMF's Gopinath Says Everything Takes a Backseat to Fighting Virus Aftermath

It may take three years for African economies to recover from the slowdown brought by the Covid-19 pandemic, according to the continent’s finance ministers.

Development partners should consider debt relief over a two- to three-year period for all African nations, the ministers said in a statement following a meeting with the United Nations Economic Commission for Africa. They also want a special purpose vehicle created to deal with all sovereign debt obligations, according to the statement.